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U.S. War Costs: Two Parts Temporary, One Part Permanent

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  • Ryan D. Edwards

Abstract

Military spending, fatalities, and the destruction of capital, all of which are immediately felt and are often large, are the most overt costs of war. They are also relatively short-lived. The costs of war borne by combatants and their caretakers, which includes families, communities, and the modern welfare state, tend instead to be lifelong. In this paper I show that a significant component of the public costs associated with U.S. wars are long-lived. One third to one half of the total present value of historical war costs have been absorbed by benefits distributed over the remaining life spans of veterans and their dependents. The half-life of these benefits has averaged more than 30 years following the end of hostilities. Estimates of the value of injuries and deaths, while uncertain, suggest that the private burden of war borne by survivors, namely the uncompensated costs of service-related injuries, are also large and long-lived.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 16108.

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Date of creation: Jun 2010
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Publication status: published as Edwards, Ryan D. (2014) "U.S. War Costs: Two Parts Temporary, One Part Permanent," Journal of Public Economics 113: 54-66.
Handle: RePEc:nbr:nberwo:16108

Note: DAE EFG PE
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  1. Dora L. Costa & Matthew E. Kahn, 2004. "Changes in the Value of Life, 1940--1980," Journal of Risk and Uncertainty, Springer, vol. 29(2), pages 159-180, 09.
  2. Gary S. Becker & Tomas J. Philipson & Rodrigo R. Soares, 2005. "The Quantity and Quality of Life and the Evolution of World Inequality," American Economic Review, American Economic Association, vol. 95(1), pages 277-291, March.
  3. Goldin, Claudia D. & Lewis, Frank D., 1975. "The Economic Cost of the American Civil War: Estimates and Implications," The Journal of Economic History, Cambridge University Press, vol. 35(02), pages 299-326, June.
  4. Adams, Peter & Hurd, Michael D. & McFadden, Daniel & Merrill, Angela & Ribeiro, Tiago, 2003. "Healthy, wealthy, and wise? Tests for direct causal paths between health and socioeconomic status," Journal of Econometrics, Elsevier, vol. 112(1), pages 3-56, January.
  5. Ryan D. Edwards, 2010. "A Review of War Costs in Iraq and Afghanistan," NBER Working Papers 16163, National Bureau of Economic Research, Inc.
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Cited by:
  1. Lee, Chulhee, 2014. "In utero exposure to the Korean War and its long-term effects on socioeconomic and health outcomes," Journal of Health Economics, Elsevier, vol. 33(C), pages 76-93.
  2. Ryan D. Edwards, 2010. "A Review of War Costs in Iraq and Afghanistan," NBER Working Papers 16163, National Bureau of Economic Research, Inc.
  3. Gregg, Matthew T. & Wishart, David M., 2012. "The price of Cherokee removal," Explorations in Economic History, Elsevier, vol. 49(4), pages 423-442.

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