How Strong is the Relationship between Defence Expenditure and Private Consumption? Evidence from the United States
Author
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Pesaran, M. Hashem & Shin, Yongcheol & Smith, Richard J., 2000.
"Structural analysis of vector error correction models with exogenous I(1) variables,"
Journal of Econometrics, Elsevier, vol. 97(2), pages 293-343, August.
- Pesaran, M. H. & Shin, Y. & Smith, R. J., 1997. "Structural Analysis of Vector Error Correction Models with Exogenous I(1) Variables," Cambridge Working Papers in Economics 9706, Faculty of Economics, University of Cambridge.
- Mohammad Hashem Pesaran & Richard J Smith & Yongcheol Shin, 1997. "Structural analysis of vector error correction models with exogenous I(1) variables (first version)," Edinburgh School of Economics Discussion Paper Series 7, Edinburgh School of Economics, University of Edinburgh.
- Mohammad Hashem Pesaran & Richard J Smith & Yongcheol Shin, 1999. "Structural analysis of vector error correction models with exogenous I(1) variables," Edinburgh School of Economics Discussion Paper Series 38, Edinburgh School of Economics, University of Edinburgh.
- Ng, Serena, 1995.
"Testing for Homogeneity in Demand Systems When the Regressors Are Nonstationary,"
Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(2), pages 147-163, April-Jun.
- Ng, S., 1995. "Testing for Homogeneity in Demand Systems when the Regressors Are Non-Stationary," Cahiers de recherche 9516, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Ng, S., 1995. "Testing for Homogeneity in Demand Systems when the Regressors Are Non-Stationary," Cahiers de recherche 9516, Universite de Montreal, Departement de sciences economiques.
- Kuehlwein, Michael, 1998. "Evidence on the substitutability between government purchases and consumer spending within specific spending categories," Economics Letters, Elsevier, vol. 58(3), pages 325-329, March.
- M. Hashem Pesaran & Yongcheol Shin, 2002.
"Long-Run Structural Modelling,"
Econometric Reviews, Taylor & Francis Journals, vol. 21(1), pages 49-87.
- Pesaran,H.M. & Shin,Y., 1995. "Long-Run Structural Modelling," Cambridge Working Papers in Economics 9419, Faculty of Economics, University of Cambridge.
- Mohammad Hashem Pesaran & Yongcheol Shin, 1999. "Long-Run Structural Modelling," Edinburgh School of Economics Discussion Paper Series 44, Edinburgh School of Economics, University of Edinburgh.
- Rosella Levaggi, 1999. "Does Government Expenditure Crowd Out Private Consumption in Italy? Evidence from a Microeconomic Model," International Review of Applied Economics, Taylor & Francis Journals, vol. 13(2), pages 241-251.
- Dunne, Paul, 1990. "The Political Economy of Military Expenditure: An Introduction," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 14(4), pages 395-404, December.
- Dunne, John Paul & Pashardes, Panos & Smith, Ronald P, 1984. "Needs, Costs and Bureaucracy: The Allocation of Public Consumption in the UK," Economic Journal, Royal Economic Society, vol. 94(373), pages 1-15, March.
- Kormendi, Roger C, 1983. "Government Debt, Government Spending, and Private Sector Behavior," American Economic Review, American Economic Association, vol. 73(5), pages 994-1010, December.
- J. Paul Dunne † & Sam Perlo-Freeman ‡ & Aylin Soydan §, 2004.
"Military expenditure and debt in small industrialised economies: A panel analysis,"
Defence and Peace Economics, Taylor & Francis Journals, vol. 15(2), pages 125-132, April.
- J Paul Dunne & Sam Perlo-Freeman & Aylin Soydan, 2003. "Military Expenditure and Debt in Small Industrialised Economies: A Panel Analysis," Working Papers 0306, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- Neary, J. P. & Roberts, K. W. S., 1980.
"The theory of household behaviour under rationing,"
European Economic Review, Elsevier, vol. 13(1), pages 25-42, January.
- Neary, J. P. & Roberts, K. W. S., 1978. "The Theory Of Household Behavior Under Rationing," Economic Research Papers 269030, University of Warwick - Department of Economics.
- Neary, J.P & Roberts, K.W.S, 1978. "The Theory of Household Behaviour under Rationing," The Warwick Economics Research Paper Series (TWERPS) 132, University of Warwick, Department of Economics.
- Karras, Georgios, 1994. "Government Spending and Private Consumption: Some International Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 26(1), pages 9-22, February.
- Blundell, Richard, 1988. "Consumer Behaviour: Theory and Empirical Evidence--a Survey," Economic Journal, Royal Economic Society, vol. 98(389), pages 16-65, March.
- Barro, Robert J, 1981.
"Output Effects of Government Purchases,"
Journal of Political Economy, University of Chicago Press, vol. 89(6), pages 1086-1121, December.
- Robert J. Barro, 1980. "Output Effects of Government Purchases," NBER Working Papers 0432, National Bureau of Economic Research, Inc.
- Barro, Robert J., 1981. "Output Effects of Government Purchases," Scholarly Articles 3451294, Harvard University Department of Economics.
- Ni, Shawn, 1995. "An empirical analysis on the substitutability between private consumption and government purchases," Journal of Monetary Economics, Elsevier, vol. 36(3), pages 593-605, December.
- Alvin Birdi & J. Paul Dunne, 2002. "South Africa: An Econometric Analysis of Military Spending and Economic Growth," Palgrave Macmillan Books, in: Jurgen Brauer & J. Paul Dunne (ed.), Arming the South, chapter 9, pages 221-233, Palgrave Macmillan.
- Johansen, Soren, 1992. "Cointegration in partial systems and the efficiency of single-equation analysis," Journal of Econometrics, Elsevier, vol. 52(3), pages 389-402, June.
- Serena Ng, 1997. "Accounting for Trends in the Almost Ideal Demand System," Boston College Working Papers in Economics 368, Boston College Department of Economics.
- J. Paul Dunne & Ron Smith & Dirk Willenbockel, 2005.
"Models Of Military Expenditure And Growth: A Critical Review,"
Defence and Peace Economics, Taylor & Francis Journals, vol. 16(6), pages 449-461.
- J Paul Dunne & Ron Smith & Dirk Willenbockel, 2004. "Models of Military Expenditure and Growth: A Critical Review," Working Papers 0408, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- Boswijk, H. Peter, 1995. "Efficient inference on cointegration parameters in structural error correction models," Journal of Econometrics, Elsevier, vol. 69(1), pages 133-158, September.
- Browning, Martin & Meghir, Costas, 1991. "The Effects of Male and Female Labor Supply on Commodity Demands," Econometrica, Econometric Society, vol. 59(4), pages 925-951, July.
- Fiorito, Riccardo & Kollintzas, Tryphon, 2004.
"Public goods, merit goods, and the relation between private and government consumption,"
European Economic Review, Elsevier, vol. 48(6), pages 1367-1398, December.
- Fiorito, Riccardo & Kollintzas, Tryphon, 2002. "Public Goods, Merit Goods, and the Relation Between Private and Government Consumption," CEPR Discussion Papers 3617, C.E.P.R. Discussion Papers.
- Ericsson, Neil R., 1995.
"Conditional and structural error correction models,"
Journal of Econometrics, Elsevier, vol. 69(1), pages 159-171, September.
- Neil R. Ericsson, 1994. "Conditional and structural error correction models," International Finance Discussion Papers 487, Board of Governors of the Federal Reserve System (U.S.).
- Peter Boswijk, H., 1994. "Testing for an unstable root in conditional and structural error correction models," Journal of Econometrics, Elsevier, vol. 63(1), pages 37-60, July.
- Aschauer, David Alan, 1985. "Fiscal Policy and Aggregate Demand," American Economic Review, American Economic Association, vol. 75(1), pages 117-127, March.
- Robert A. Pollak, 1969. "Conditional Demand Functions and Consumption Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 83(1), pages 60-78.
- Deaton, Angus & Meullbauer, John, 1981. "Functional Forms for Labor Supply and Commodity Demands with and without Quantity Restrictions," Econometrica, Econometric Society, vol. 49(6), pages 1521-1532, November.
- Adrian R. Fleissig & Robert J. Rossana, 2003. "Are Consumption and Government Expenditures Substitutes or Complements? Morishima Elasticity Estimates from the Fourier Flexible Form," Economic Inquiry, Western Economic Association International, vol. 41(1), pages 132-146, January.
- H. Sonmez Atesoglu, 2002. "Defense Spending Promotes Aggregate Output in the United States--Evidence from Cointegration Analysis," Defence and Peace Economics, Taylor & Francis Journals, vol. 13(1), pages 55-60.
- Smith, R P, 1977. "Military Expenditure and Capitalism," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 1(1), pages 61-76, March.
- Johansen, Soren, 1995. "Identifying restrictions of linear equations with applications to simultaneous equations and cointegration," Journal of Econometrics, Elsevier, vol. 69(1), pages 111-132, September.
- Jan-Egbert Sturm, 1998. "Public Capital Expenditure in OECD Countries," Books, Edward Elgar Publishing, number 1500.
- Stock, James H, 1987. "Asymptotic Properties of Least Squares Estimators of Cointegrating Vectors," Econometrica, Econometric Society, vol. 55(5), pages 1035-1056, September.
- Graham, Fred C, 1993. "Fiscal Policy and Aggregate Demand: Comment," American Economic Review, American Economic Association, vol. 83(3), pages 659-666, June.
- David Gold, 1997. "Evaluating the trade-off between military spending and investment in the United States," Defence and Peace Economics, Taylor & Francis Journals, vol. 8(3), pages 251-266.
- Paul Dunne & Duncan Watson, 2000. "Military expenditure and employment in South Africa," Defence and Peace Economics, Taylor & Francis Journals, vol. 11(4), pages 587-596.
- Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
- Michael Gerace, 2002. "US Military Expenditures and Economic Growth: Some Evidence from Spectral Methods," Defence and Peace Economics, Taylor & Francis Journals, vol. 13(1), pages 1-11.
- JP Dunne & E Nikolaidou & R Smith, 2002. "Military Spending, Investment And Economic Growth In Small Industrialising Economies," South African Journal of Economics, Economic Society of South Africa, vol. 70(5), pages 789-790, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Pieroni, Luca, 2009. "Does defence expenditure affect private consumption? Evidence from the United States," Economic Modelling, Elsevier, vol. 26(6), pages 1300-1309, November.
- David Aristei & Luca Pieroni, 2005. "Estimating the Role of Government Expenditure in Long-run Consumption," Quaderni del Dipartimento di Economia, Finanza e Statistica 13/2005, Università di Perugia, Dipartimento Economia.
- D. Aristei & Luca Pieroni, 2008. "Cointegration Rank Test and Long Run Specification: A Note on the Robustness of Structural Demand Systems," Working Papers 0809, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- Serletis, Apostolos & Shahmoradi, Asghar, 2010. "Consumption effects of government purchases," Journal of Macroeconomics, Elsevier, vol. 32(3), pages 892-905, September.
- J Paul Dunne, 2011. "Military Keynesianism: An Assessment," Working Papers 1106, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- Fiorito, Riccardo & Kollintzas, Tryphon, 2004.
"Public goods, merit goods, and the relation between private and government consumption,"
European Economic Review, Elsevier, vol. 48(6), pages 1367-1398, December.
- Fiorito, Riccardo & Kollintzas, Tryphon, 2002. "Public Goods, Merit Goods, and the Relation Between Private and Government Consumption," CEPR Discussion Papers 3617, C.E.P.R. Discussion Papers.
- Yum K. Kwan, 2007. "The Direct Substitution between Government and Private Consumption in East Asia," NBER Chapters, in: Fiscal Policy and Management in East Asia, pages 45-58, National Bureau of Economic Research, Inc.
- Muhammad Shahbaz & Talat Afza & Muhammad Shahbaz Shabbir, 2013.
"Does Defence Spending Impede Economic Growth? Cointegration And Causality Analysis For Pakistan,"
Defence and Peace Economics, Taylor & Francis Journals, vol. 24(2), pages 105-120, April.
- Shahbaz, Muhammad & Afza, Talat & Shabbir, Shahbaz Muhammad, 2011. "Does defence spending impede economic growth? cointegration and causality analysis for Pakistan," MPRA Paper 30887, University Library of Munich, Germany, revised 27 Mar 2011.
- Yum K. Kwan, 2006. "The Direct Substitution Between Government and Private Consumption in East Asia," NBER Working Papers 12431, National Bureau of Economic Research, Inc.
- Pieroni, Luca & Lorusso, Marco, 2013. "The Role of Fiscal Policy Components in Private Consumption: a Re-examination of the Effects of Military and Civilian Spending," MPRA Paper 47878, University Library of Munich, Germany.
- Brunila, Anne, 1997. "Current income and private consumption : Saving decisions : Testing the finite horizon model," Research Discussion Papers 6/1997, Bank of Finland.
- repec:zbw:bofrdp:1997_006 is not listed on IDEAS
- Brunila, Anne, 1997. "Current income and private consumption: Saving decisions: Testing the finite horizon model," Bank of Finland Research Discussion Papers 6/1997, Bank of Finland.
- George Tridimas, 2002. "The Dependence of Private Consumer Demand on Public Consumption Expenditures: Theory and Evidence," Public Finance Review, , vol. 30(4), pages 251-272, July.
- Hafedh Bouakez & Nooman Rebei, 2007.
"Why does private consumption rise after a government spending shock?,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 40(3), pages 954-979, August.
- Hafedh Bouakez & Nooman Rebei, 2007. "Why does private consumption rise after a government spending shock?," Canadian Journal of Economics, Canadian Economics Association, vol. 40(3), pages 954-979, August.
- Hafedh Bouakez & Nooman Rebei, 2003. "Why Does Private Consumption Rise After a Government Spending Shock?," Staff Working Papers 03-43, Bank of Canada.
- Nooman Rebei & Hafedh Bouakez, 2004. "Why Does Private Consumption Rise After a Government Spending Shock?," Computing in Economics and Finance 2004 20, Society for Computational Economics.
- Nooman Rebei & Hafedh Bouakez, 2004. "Why Does Private Consumption Rise After a Government Spending Shock?," Econometric Society 2004 North American Summer Meetings 417, Econometric Society.
- Pieroni, Luca & d'Agostino, Giorgio & Lorusso, Marco, 2008.
"Can we declare military Keynesianism dead?,"
Journal of Policy Modeling, Elsevier, vol. 30(5), pages 675-691.
- Luca Pieroni & Giorgio D’Agostino & Marco Lorusso, 2008. "Can we declare military Keynesianism dead?," Quaderni del Dipartimento di Economia, Finanza e Statistica 44/2008, Università di Perugia, Dipartimento Economia.
- Luca Pieroni & Giorgio d'Agostino & Marco Lorusso, 2008. "Can We Declare Military Keynesianism Dead?," Working Papers 0804, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
- L. Pieroni & D. Lanari & L. Salmasi, 2013.
"Food prices and overweight patterns in Italy,"
The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 14(1), pages 133-151, February.
- Pieroni, Luca & Lanari, Donatella & Salmasi, Luca, 2010. "Food Prices and Overweight Patterns in Italy," MPRA Paper 23744, University Library of Munich, Germany.
- Luca Pieroni & Donatella Lanari & Luca Salmasi, 2010. "Food Prices and Overweight Patterns in Italy," EERI Research Paper Series EERI_RP_2010_40, Economics and Econometrics Research Institute (EERI), Brussels.
- Brunila, Anne, 1996. "Fiscal policy and private consumption: Saving decisions: Evidence from Finland," Bank of Finland Research Discussion Papers 28/1996, Bank of Finland.
- Zhang, J., 1998. "Global behaviour of a system with imperfect private-public substitutability," Journal of Public Economics, Elsevier, vol. 67(3), pages 437-454, March.
- Innocent.U. Duru & Millicent Adanne Eze & Bartholomew.O.N. Okafor & Abubakar Yusuf & Lawrence.O. Ede & Abubakar Sadiq Saleh, 2021. "Military Outlay and Economic Growth: The Scenarios of Lake Chad Basin Countries of the Republic of Chad and Nigeria," Growth, Asian Online Journal Publishing Group, vol. 8(1), pages 12-26.
- Takeo Hori & Noritaka Maebayashi, 2013. "Indeterminacy and utility-generating government spending under balanced-budget fiscal policies," Discussion Papers in Economics and Business 13-13, Osaka University, Graduate School of Economics.
More about this item
Keywords
Military Expenditure; Consumption; crowding out/in;All these keywords.
JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
- H4 - Public Economics - - Publicly Provided Goods
NEP fields
This paper has been announced in the following NEP Reports:- NEP-PBE-2007-05-04 (Public Economics)
- NEP-UPT-2007-05-04 (Utility Models and Prospect Theory)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwe:wpaper:0705. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jo Michell (email available below). General contact details of provider: https://edirc.repec.org/data/seuweuk.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.