[영문]While the terrible attack on the World Trade Centers on September 11, 2001 caused a substantial short?run shock to New York City's economy, the city demonstrated substantial economic resilience over the longer run. Prices for office space increased relative to the nation between 2001 and 2003, and demand for housing has been robust. Combined with a short?lived national recession, the 9/11 attack led to severe short?run fiscal pressure on the city. Budget deficits were addressed mainly through roughly equal amounts of additional debt and tax increases, plus modest expenditure cuts.Costs of 9/11 through the public sector, including both tax losses and expenditure increases, are estimated to range from 0.7 percent to 1.35 percent of 2002 personal income, depending on the time period. Total federal compensation, through direct grants and tax expenditures, will ultimately equal about