The Impact of Terrorism on Well-being: Evidence from the Boston Marathon Bombing

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Title: The Impact of Terrorism on Well-being: Evidence from the Boston Marathon Bombing
Authors: Clark, Andrew E.Doyle, OrlaStancanelli, Elena
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Date: Sep-2017
Online since: 2017-11-23T17:04:13Z
Abstract: A growing literature concludes that terrorism impacts the economy, yet less is known about its impact on utility. This paper estimates the impact of the 2013 Boston Marathon Bombing on well-being, by exploiting representative U.S. daily data. Using both a regression discontinuity and an event study design, whereby the 2012 Boston marathon serves as a counterfactual, we find a sharp reduction in well-being, equivalent to a two percentage point rise in annual unemployment. The effect is stronger for women and those living in nearby States, but does not persist beyond one week, thus demonstrating the resilience of well-being to terrorism.
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Start page: 1
End page: 33
Series/Report no.: UCD Centre for Economic Research Working Paper Series; WP2017/17
Copyright (published version): 2017 the authors
Keywords: Well-beingTerrorismRegression discontinuity designDifferences-in-differences
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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