Claudia Biancotti, Riccardo Cristadoro, 17 January 2018

Cyber attacks are becoming more frequent and increasingly costly. This column discusses some of the challenges involved in measuring the economic damage caused by these attacks, including a lack of agreement on how to assess damage, an asymmetrical distribution where a few large-scale incidents account for most costs, and externality effects. A measurement framework, estimation strategy, and reliable data will all be needed for successful policy evaluation.

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