The Keynesian IS-MR Model and Military Spending

W. Robert J. Alexander

Defence and Peace Economics, 2015, vol. 26, issue 2, 213-221

Abstract: The issue of guns or butter is one of the most fundamental economic questions, yet there is no consensus on a theoretical framework for examining it. Over the last decade, a version of a simple Keynesian macroeconomic model has been applied a number of times to examining the link between defence spending and economic growth in a range of countries. There are reasons for doubting the soundness of this model as a basis for empirical work.

Date: 2015
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DOI: 10.1080/10242694.2013.857449

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