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The cost of malicious cyber activity to the U.S. economy

Author: Council of Economic Advisers (U.S.),
Publisher: [Washington, D.C.] : The Council of Economic Advisers, Executive Office of the President of the United States, 2018.
Edition/Format:   eBook : Document : National government publication : English
Summary:
This report examines the substantial economic costs that malicious cyber activity imposes on the U.S. economy. Cyber threats are ever-evolving and may come from sophisticated adversaries. Due to common vulnerabilities, instances of security breaches occur across firms and in patterns that are difficult to anticipate. Importantly, cyberattacks and cyber theft impose externalities that may lead to rational  Read more...
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Details

Genre/Form: Online resources
Material Type: Document, Government publication, National government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Council of Economic Advisers (U.S.),
OCLC Number: 1023657176
Notes: "February 2018."
Description: 1 online resource (60 pages) : color illustrations
Responsibility: The Council of Economic Advisers.

Abstract:

This report examines the substantial economic costs that malicious cyber activity imposes on the U.S. economy. Cyber threats are ever-evolving and may come from sophisticated adversaries. Due to common vulnerabilities, instances of security breaches occur across firms and in patterns that are difficult to anticipate. Importantly, cyberattacks and cyber theft impose externalities that may lead to rational underinvestment in cybersecurity by the private sector relative to the socially optimal level of investment. Firms in critical infrastructure sectors may generate especially large negative spillover effects to the wider economy. Insufficient data may impair cybersecurity efforts. Successful protection against cyber threats requires cooperation across firms and between private and public sectors.

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