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Benmelech, Efraim - 2014

There is mounting evidence of the influence of personal characteristics of CEOs on corporate outcomes. In this paper we analyze the relation between military service of CEOs and managerial decisions, financial policies, and corporate outcomes. Exploiting exogenous variation in the propensity to...

Persistent link: https://www.econbiz.de/10012458882

The Dictator's Inner Circle

Francois, Patrick - 2014

We posit the problem of an autocrat who has to allocate access to the executive positions in his inner circle and define the career profile of his own insiders. Statically, granting access to an executive post to a more experienced subordinate increases political returns to the post, but is more...

Persistent link: https://www.econbiz.de/10012458450

A Theory of Military Dictatorships

Acemoglu, Daron - 2008

not sufficient, the military can take action against a nondemocratic regime in order to create its own dictatorship. A … will be reformed in the future acts as an additional motivation for the military to undertake coups against democratic … more difficult for democracies to prevent military coups. In addition, greater inequality also makes it more likely that …

Persistent link: https://www.econbiz.de/10012464732

Stock Volatility and the War Puzzle

Cortes, Gustavo Silva; Vossmeyer, Angela; Weidenmier, … - National Bureau of Economic Research - 2022

U.S. stock volatility is 33 percent lower during wartime and periods of conflict. This is true even for World Wars I …

Persistent link: https://www.econbiz.de/10013172137

U.S. War Costs : Two Parts Temporary, One Part Permanent

Edwards, Ryan D. - 2010

Military spending, fatalities, and the destruction of capital, all of which are immediately felt and are often large, are the most overt costs of war. They are also relatively short-lived. The costs of war borne by combatants and their caretakers, which includes families, communities, and the...

Persistent link: https://www.econbiz.de/10012462548

The Net Asset Position of the U.S. National Government, 1784-1802 : Hamilton's Blessing or the Spoils of War?

Grubb, Farley - 2005

The War for Independence left the National Government deeply in debt. The spoils from winning that war also gave it an empire of land. So, post-1783, was the National Government solvent? Was its net asset position, land assets minus debt liabilities, positive or negative? Evidence is gathered to...

Persistent link: https://www.econbiz.de/10012466803

What If Alexander Hamilton Had Been Argentinean? A Comparison of the Early Monetary Experiences of Argentina and the United States

Bordo, Michael D. - 1998

The contrast between the early nineteenth century Argentinean experience of high inflation and the American experience of low inflation is interpreted in terms of a dynamic monetary model of optimal taxation. It is argued that the two countries' experiences diverged because of the different...

Persistent link: https://www.econbiz.de/10012471950

Fiscal Stimulus in a Monetary Union : Evidence from U.S. Regions

Nakamura, Emi - 2011

We use rich historical data on military procurement spending across U.S. regions to estimate the effects of government spending in a monetary union. Aggregate military build-ups and draw- downs have differential effects across regions. We use this variation to estimate an "open economy relative...

Persistent link: https://www.econbiz.de/10012461267

Demand Stimulus as Social Policy

Auerbach, Alan J.; Gorodnichenko, Yuriy; Murphy, Daniel P. - National Bureau of Economic Research - 2022

Department of Defense spending and its effects on a range of social outcomes. The income generated by defense spending accrues …

Persistent link: https://www.econbiz.de/10013388854

Inflation, War Bonds, and the Rise of Republicans in the 1950s

Brunet, Gillian; Hilt, Eric; Jaremski, Matthew S. - National Bureau of Economic Research - 2023

We study the role of war bonds and inflation in the presidential elections of the 1950s. During World War II, the federal government conducted aggressive campaigns to convince Americans to invest their savings in wartime savings bonds. Although the bonds were nonnegotiable and protected from...

Persistent link: https://www.econbiz.de/10014447290

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