| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10388 |
| 来源ID | Working Paper 10388 |
| An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance | |
| Jeffrey R. Brown; J. David Cummins; Christopher M. Lewis; Ran Wei | |
| 发表日期 | 2004-03-29 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This paper examines the role of the federal government in the market for terrorism reinsurance. We investigate the stock price response of affected industries to a sequence of thirteen events culminating in the enactment of the Terrorism Risk Insurance Act (TRIA) of 2002. In the industries most likely to be affected by TRIA banking, construction, insurance, real estate investment trusts, transportation, and public utilities the stock price effect was primarily negative. The Act was at best value-neutral for property-casualty insurers because it eliminated the option not to offer terrorism insurance. The negative response of the other industries may be attributable to the Act's impeding more efficient private market solutions, failing to address nuclear, chemical, and biological hazards, and reducing market expectations of federal assistance following future terrorist attacks. |
| 主题 | Financial Economics ; Financial Markets ; Financial Institutions |
| URL | https://www.nber.org/papers/w10388 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/568017 |
| 推荐引用方式 GB/T 7714 | Jeffrey R. Brown,J. David Cummins,Christopher M. Lewis,et al. An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w10388.pdf（481KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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