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Hurricane Irene and the Economy

In the context of a fragile economic recovery, questions about the impact of the hurricane on activity are prudent and necessary. The immediate impact of the hurricane will be a decline in economic activity. In the short and medium term, however, activity may rebound as capital and labor resources are deployed in rebuilding.

By Dr. Sam Chandan | Updated on August 29, 2011

The economic costs of the last weekend’s hurricane are still being tallied in the Carribean and along the eastern coast of the United States. That accounting takes place against the backdrop of the hurricane’s human toll, including the loss of life and very real personal costs that will go unrecognized in the financial tally.

In the context of a fragile economic recovery, questions about the impact of the hurricane on near- and medium-term activity are prudent and necessary. If we sit precariously close to a relapse into recession, how will this setback influence the outcome, if at all?

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