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43 p, 1.1 MB Multipliers of unexpected increases in military spending : an empirical investigation / Ben Zeev, Nadav (Ben-Gurion University of the Negev) ; Pappa, Evi (Universitat Autònoma de Barcelona)
We show that unexpected increases in defense and total government spending increase total factor productivity (TFP) and output and decrease investment in US quarterly data. Yet, the output multiplier is zero when the TFP response is shut down. [...]
2015 - 10.1016/j.jedc.2015.06.004
Journal of economic dynamics & control, Vol. 57 (2015) , p. 205-226  

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