Defense and Non-defense vs Debt: How does defense and non-defense government spending impact the dynamics of federal government debt in the United States?
This paper explores the dynamic relationship among defense and non-defense government spending, the government debt, and the output gap in the United States. We estimate structural vector auto-regression (SVAR) models for the full sample (1947:Q1 to 2021:Q1), as well as two sub-samples: (1947:Q1-198...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2022-01-01
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| Series: | Journal of Government and Economics |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2667319322000210 |