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We investigate the role of financialization in the decline of investment for U.S. non-financial firms from 1992 - 2017 … to divert resources from real investment to share repurchases to increase stock prices. Using micro-data from U.S. firms … repurchases on capital investment; (ii) to examine the interaction between stock-based CEO pay and the likelihood of share …
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This paper examines U.S. military spending from 2000-2015 in an attempt to determine whether cuts in military spending have decimated the U.S. military, as some political leaders suggest, and whether a large increase in military spending can be justified
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The aim of this paper is to study the interdependence of military spending between US and a panel of European countries in the period 1988-2013. The empirical estimation is based on a: (i) a unit root tests and a cointegration analysis; (ii) FMOLS and DOLS estimations. General results highlight...
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This paper describes George Washington's administration response to a plea for emergency war financing from French colonists who were trying to quash a slave rebellion in Haiti (then Saint Domingue). Washington bypassed Congress and authorized assistance to the French planters, hoping that...
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