Models of Military Expenditure
AbstractA brief review of the extensive empirical literature devoted to explaining levels of military expenditure indicates a wide variety of unreconciled results. However, comparing the alternative models is not straightforward. This paper uses British post-war military expenditures to illustrate some of the methodological issues involved in model comparison, evaluation and selection. Starting from two published models for the U.K., a systematic specification search leads to a new model, which dominates alternative specifications, passes a wide range of misspecification tests, and also fits well to French data. Copyright 1989 by John Wiley & Sons, Ltd.
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Bibliographic InfoArticle provided by John Wiley & Sons, Ltd. in its journal Journal of Applied Econometrics.
Volume (Year): 4 (1989)
Issue (Month): 4 (Oct.-Dec.)
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