Please use this identifier to cite or link to this item: http://nopr.niscair.res.in/handle/123456789/54171
Title: Estimating Optimal Military Spending Policy in DSGE Model: Empirical vs Theoretical Approach
Authors: Alaminos, David
Becerra-Vicario, Rafael
Cisneros-Ruiz, Ana José
Solano-Sánchez, Miguel Ángel
Keywords: Military spending;DSGE Model;DSGE-VAR;Macroeconomic policy
Issue Date: Mar-2020
Publisher: NISCAIR-CSIR, India
Abstract: Public spending on defense has become one of the most recent and complex research topics in macroeconomic policy analysis, which affects both economic growth and the welfare of society. Literature demands works that address the optimal calculation of military spending. This paper tries to respond to the estimation approach used to calculate military spending. Both a DSGE model (theoretical approach), a VAR model (empirical approach) and a DSGE-VAR model (combined approach) are developed. Our results indicate that the DSGE-VAR model offers the most robust estimates with minor deviations, closely followed by the DSGE model.
Page(s): 193-196
URI: http://nopr.niscair.res.in/handle/123456789/54171
ISSN: 0975-1084 (Online); 0022-4456 (Print)
Appears in Collections:JSIR Vol.79(03) [March 2020]

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