Citation

Ito H, Lee D. J Econ Bus 2005; 57(1): 75-95.

Affiliation

LECG, Corp. 350 Massachusetts Avenue, Suite 300, Cambridge, MA 02139, USA.

Copyright

(Copyright © 2005)

DOI

10.1016/j.jeconbus.2004.06.003

PMID

32287526

PMCID

PMC7112671

Abstract

This paper assesses the impact of the September 11 terrorist attacks and its after-effects on U.S. airline demand. Using monthly time-series data from 1986 to 2003, we find that September 11 resulted in both a negative transitory shock of over 30% and an ongoing negative demand shock amounting to roughly 7.4% of pre-September 11 demand. This ongoing demand shock has yet to dissipate (as of November 2003) and cannot be explained by economic, seasonal, or other factors.

Copyright © 2004 Elsevier Inc. All rights reserved.

Language: en

Keywords

Airlines; Attenuating shock; September 11; Structural change