Department of Defense Profit Policy and Capital Investment in the Military Aircraft Industry

Thomas P Frazier, Matthew S Goldberg and Gulledge, Thomas R,

The Review of Economics and Statistics, 1992, vol. 74, issue 3, 394-403

Abstract: This paper analyzes the effect of two Department of Defense policies on the investment behavior of the military aircraft industry. The first policy concerns progress payments, which govern the rate at which Department of Defense reimburses costs expended by contractors. The second policy concerns a markup on capital equipment, which was explicitly designed to promote investment. The effects of these policies are examined using time-series data on four large aerospace contractors. Copyright 1992 by MIT Press.

Date: 1992
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