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C22 (2) answer(s).
 
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1
ID:   134029


Defense spending and unemployment in France / Malizard, Julien   Journal Article
Malizard, Julien Journal Article
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Publication 2014.
Summary/Abstract France has received little attention in the literature of defense economics, despite some outstanding features of the country's situation. This study attempts to partially fill this gap with new empirical evidence which evaluates the influence of military expenditure on the unemployment rate between 1975 and 2008. Our estimation is based on the ARDL approach to cointegration. The results reveal that both defense and non-defense spending exert a negative influence on unemployment but that defense spending has a higher negative impact.
Key Words Defence Budget  ;  France  ;  Defence Economy  ;  Unemployment  ;  Defense Spending  ;  C22  ; 
J64  ;  H56  ;  O40  ;  ARDL Approach  ;  Negative Influence 
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2
ID:   117678


Return, volatility and risk spillover from oil prices and the U / Kumar, Dilip; Maheswaran, S   Journal Article
Kumar, Dilip Journal Article
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Publication 2013.
Summary/Abstract This article examines the return, volatility, upside risk and downside risk spillover effects from crude oil prices and the US$/INR exchange rate to the major Indian industrial sectors using Hong's (2001) approach. We make use of the generalised autoregressive conditional heteroskedasticity (GARCH) class of models based on the generalised error distribution (GED) to estimate extreme upside and downside Value-at-Risk (VaR). Our empirical results provide evidence of a significant return spillover effect from the crude oil market to the energy, FMCG and pharmaceutical (pharma) sectors and from the US$/INR exchange rate to the pharma sector. We also find evidence of significant volatility spillover from crude oil prices to the energy, fast-moving consumer goods (FMCG) and multinational corporation (MNC) sectors and from the US$/INR exchange rate to the energy and pharma sectors. Moreover, we find significant upside risk spillover from crude oil prices and the US$/INR exchange rate to all the industrial sectors (except for the energy sector with respect to the US$/INR exchange rate); significant downside risk spillover from crude oil prices to the energy, FMCG, pharma and MNC sectors and from the US$/INR exchange rate to only the pharma sector. In addition, we observe two-way downside risk spillover between crude oil prices and the US$/INR exchange rate.
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