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

Andrew Clark (), Orla Doyle and Elena Stancanelli

No 201717, Working Papers from School of Economics, University College Dublin

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.

Keywords: Well-being; Terrorism; Regression discontinuity design; Differences-in-differences (search for similar items in EconPapers)
JEL-codes: I31 J21 J22 F52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hap, nep-ltv and nep-ure
Date: 2017-09
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http://hdl.handle.net/10197/9046 First version, 2017 (application/pdf)

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