Jordan is a recent entrant to the domestic defense industry with the establishment of King Abdullah II Design and Development Bureau (KADDB) in 1999. The defense industrial initiative is intended to jumpstart industrialization across a range of sectors. With the Jordanian defense expenditures at...

We examine the evidence for Purchasing Power Parity (PPP) using post-Bretton Woods exchange rate data for 20 industrialized countries. The two tests used are the covariate tests for stationarity where the null hypothesis of stationarity is tested against the unit root alternative. These tests...

Purchasing Power Parity is tested for in post-Bretton Woods real exchange rate data from 20 developed countries using univariate tests and covariate augmented versions of the Augmented Dickey-Fuller (CADF) and feasible point optimal (CPT) unit root tests. The covariates are a combination of...

The United States used a combination of economic, political, and military means to effect change in Iraq. Most notably, the United States used a buildup of security forces, the “surge”, as an intervention to stabilize Iraq. This article uses structural change tests to determine the effect of...

By testing for structural breaks in defense expenditures, the dates of change in the pattern of defense expenditures for the NATO allies are determined. If NATO members are responding to a common threat, the breaks should be similar, in both direction and dates, for defense expenditures. The...