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| Author: | Hooker, M. A. Knetter, M. M. |
| Title: | The Effects of Military Spending on Economic Activity: Evidence from State Procurement Spending |
| Journal: | Journal of Money, Credit and Banking
1997 : AUG, Vol. 29:3, p. 400-421 |
| Index terms: | ECONOMIC EFFICIENCY DEFENCE EMPLOYMENT |
| Language: | eng |
| Abstract: | We use state data from the period 1963-1994 to estimate the response of employment growth to military procurement spending. The state-year panel provides greater variation in both variables than aggregate data. There are two main findings. First military procurement spending does explain a statistically significant degree of the variation in employment growth. In particular, large adverse state procurement shocks have proportionately larger effects on state employment growth rates. |
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