Monday, May 2, 2016
The CREATE Economic Consequence Analysis Tool (E-CAT) continues to gain attention. E-CAT was commissioned by the Department of Homeland Security (DHS) to provide rapid estimates of the economic consequences of dozens of threats, including terrorism, natural disasters, and technological accidents. A CREATE research team, led by Professor Adam Rose, developed the Tool as an outgrowth of a broad economic consequence analysis framework that includes resilience and behavioral responses. E-CAT is based on a methodology that transfers the results of complex computable general equilibrium analyses to reduced-form regression models that can be Incorporated into a user-friendly software system programmed in Visual Basic applications.
Recently, the US Coast Guard announced that E-CAT would be a cornerstone of its Maritime Cyber Risk initiative. Professor Rose was chosen to lead the Economic Consequences Working Group, which consists of Coast Guard officials, practitioners in the maritime field, and faculty researchers at CREATE and CCICADA. The group will develop modules for E-CAT to cover several types of maritime cyber threats.In addition, a book about E-CAT is to be published by Springer. The authors include senior members of the research team, Adam Rose, Fynnwin Prager, Zhenhua Chen, and Sam Chatterjee ( the latter three are current or former CREATE post-docs).