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Do defense news crowd out private investment?

Mohamad Karaki and Hadi Safieddine

Economics Letters, 2023, vol. 233, issue C

Abstract: This paper studies the effect of U.S. defense news on private U.S. investment. We estimate linear and state-dependent local projection models and find ample evidence that defense news triggers crowding out effects on investment, especially in times of economic slack.

Keywords: Defense news; Investment; Local projection (search for similar items in EconPapers)
JEL-codes: E22 E32 E62 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:233:y:2023:i:c:s0165176523004470

DOI: 10.1016/j.econlet.2023.111421

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