@article{ref1,
title="US Military Expenditures and Economic Growth: Some Evidence from Spectral Methods",
journal="Defence and peace economics",
year="2002",
author="Gerace, Michael P.",
volume="13",
number="1",
pages="1-11",
abstract="There is not much consensus on what the relationship is between military expenditures and economic growth. One argument is that military expenditures have a positive impact on growth because they are used as a fiscal policy too. The other hypothesis is that military expenditures have a negative impact on growth. Neither argument is consistent with the results reported here. This paper conducts a spectral analysis on the growth rates of real military and non-military US government expenditures and GDP from 1951-1997. The results suggest that, while non-military spending does move counter-cyclically with real GDP growth rates, military spending does not.<p />",
language="",
issn="1024-2694",
doi="10.1080/10242690210966",
url="http://dx.doi.org/10.1080/10242690210966"
}