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Estimating defence budget saving from disarmament: the United States' case

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  • Minoru Okamura

Abstract

Probing the technology in the production of US national defence by using a dynamic cost-function model with adjustment costs, this paper evaluates the effect of reducing the level of national defence on the defence budget saving. Our inquiry involves estimating the defence production structure without output data for non-market goods that are normally unavailable. Our findings include: (i) the United States behaves rationally to minimize cost in the production of national defence; (ii) the adjustment costs are larger in disarmament than in military build-up; (iii) due to the adjustment costs peculiar to disarmament, the defence budget saving from disarmament appears small, but cutbacks allow great savings on the defence budget.

Suggested Citation

  • Minoru Okamura, 2004. "Estimating defence budget saving from disarmament: the United States' case," Defence and Peace Economics, Taylor & Francis Journals, vol. 15(4), pages 309-330.
    • Handle: RePEc:taf:defpea:v:15:y:2004:i:4:p:309-330
    DOI: 10.1080/1024269032000110559
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    References listed on IDEAS

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    1. Jurgen Brauer, 1991. "Perspective," Challenge, Taylor & Francis Journals, vol. 34(3), pages 54-58, May.
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    More about this item

    Keywords

    Disarmament; Defence production function; Dynamic cost-function model; Non-market goods; Technical change; Defence budget savings; JEL codes: D24; H56; H61;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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