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    Models of military expenditure

    Smith, Ron P. (1989) Models of military expenditure. Journal of Applied Econometrics 4 (4), pp. 345-359. ISSN 0883-7252.

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    A brief review of the extensive empirical literature devoted to explaining levels of military expenditure indicates a wide variety of unreconciled results. However, comparing the alternative models is not straightforward. This paper uses British post‐war military expenditures to illustrate some of the methodological issues involved in model comparison, evaluation and selection. Starting from two published models for the UK, a systematic specification search leads to a new model, which dominates alternative specifications, passes a wide range of misspecification tests, and also fits well to French data.


    Item Type: Article
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Sarah Hall
    Date Deposited: 20 Oct 2020 13:29
    Last Modified: 01 Dec 2021 16:31


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