Policy attention to the security industry increased substantially after the terrorist attacks in the U.S. on September 11th, 2001. With an increased demand for security, the global security market grew a tenfold to around €100 billion in 2011. Many studies expect that growth of the worldwide...

The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...