Abstract

http://ssrn.com/abstract=729006
 
 

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The Impact of Terrorism on the Defense Industry


Claude Berrebi


RAND Corporation; Hebrew University - The Federmann School of Public Policy and Government; University of California, Los Angeles (UCLA) - Department of Economics; Princeton University - Department of Economics; RAND Corporation - Labor and Population Studies

Esteban F. Klor


Hebrew University of Jerusalem - Department of Economics; Centre for Economic Policy Research (CEPR)

July 1, 2008

RAND Working Paper Series WR- 597

Abstract:     
This paper analyzes the impact of terrorism on Israeli companies related to the defense, security or anti-terrorism industries, relative to its impact on the rest of the companies. The authors match every Israeli company to the American company with the closest expected return among all the companies that belong to the same industry and trade in the same market in order to isolate the effect of terrorism from other common industry shocks. The findings show that whereas terrorism had a significant negative impact of 5% on non defense-related companies, it had a significantly positive overall effect of 7% on defense-related companies.

Number of Pages in PDF File: 38

Keywords: Terror; Defense Sector; Financial Markets

JEL Classification: D74, G14, K42, L64, P16

working papers series


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Date posted: May 26, 2005  

Suggested Citation

Berrebi, Claude and Klor, Esteban F., The Impact of Terrorism on the Defense Industry (July 1, 2008). RAND Working Paper Series WR- 597. Available at SSRN: http://ssrn.com/abstract=729006 or http://dx.doi.org/10.2139/ssrn.729006

Contact Information

Claude Berrebi
RAND Corporation ( email )
Santa Monica, CA
310-393-0411 (Phone)
HOME PAGE: http://www.rand.org/about/people/b/berrebi_claude.html
Hebrew University - The Federmann School of Public Policy and Government
Hebrew University
Mount Scopus
Jerusalem, 91905
Israel
University of California, Los Angeles (UCLA) - Department of Economics ( email )
Box 951477
Los Angeles, CA 90095-1477
United States
HOME PAGE: http://www.econ.ucla.edu/people/Faculty/Berrebi.html
Princeton University - Department of Economics ( email )
Industrial Relations Section
Princeton, NJ 08544
United States
609-258-4777 (Phone)
609-258-2907 (Fax)
HOME PAGE: http://www.princeton.edu/~cberrebi
RAND Corporation - Labor and Population Studies ( email )
1776 Main Street
Santa Monica, CA
United States
310-393-0411 (Phone)
Esteban F. Klor (Contact Author)
Hebrew University of Jerusalem - Department of Economics ( email )
Mount Scopus
Jerusalem, 91905
Israel
+972 2 588 3143 (Phone)
+972 2 581 6071 (Fax)
HOME PAGE: http://economics.huji.ac.il/facultye/klor/klor.htm
Centre for Economic Policy Research (CEPR) ( email )
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
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References:  22
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