Pieroni, Luca; d'Agostino, Giorgio; Lorusso, Marco - In: Journal of Policy Modeling 30 (2008) 5, pp. 675-691
This paper empirically tests the Keynesian hypothesis that government defence spending positively impacts on aggregate output, by using a long-run equilibrium model for the US and the UK. Our contribution, with respect to previous works, is twofold. First, our inferences are adjusted for...