Ito, Harumi; Lee, Darin - 2003
This paper assesses the impact of the September 11th terrorist attacks and its after-effects on U.S. airline demand …. Using monthly time-series data from 1986-2003, we find that September 11th resulted in both a negative transitory shock of … over 30% and an ongoing negative demand shock amounting to roughly 7.4% of pre-September 11th demand. This ongoing demand …