Abstract The article applies the economic theory of alliances to uncover military expenditure burden sharing in North Atlantic Treaty Organization (NATO) during 1991–2020, prior Russia’s invasion Ukraine February 2022. In so doing, our analysis accounts for relative locations NATO allies through various spatial or weights applied allies’ defense spending. Such include membership status, contigu...

In the economic literature, it is considered that defense expenditure, which characterized as public spending, can negatively affect growth either through crowding out effect of investments within framework Neo-Classical Approach, or positively by increasing aggregate demand Keynesian Approach. Benoit examined relationship between and military spending in developing countries his study 1973 he ...

Abstract: The long-lasting “guns versus butter” argument reflects the fact that China has been experiencing a difficult choice in terms of improving the defense and social welfare sectors, and thus achieving fiscal sustainability. The result, however, is controversial. The present paper therefore re-examines the relationship between defense and social welfare by employing continuous wavelet ana...

In this paper we present a fully anonymous (for payer and payee) electronic payment scheme for B2B transactions involving high amounts, without using tamper resistant devices, without pseudonyms, and preventing double spending. Schemes with detection of double spending at deposit are not well suited for high amount transactions (merchants and banks don’t want to assume potential high losses). O...

A new scheme for electronic money is described where e-cash is created for a specific recipient in any transaction. This has benefits for the efficiency of implementing measures against double spending. Details of the scheme are provided to show that anonymity and transferability are still possible with recipient specific e-cash. The scheme ensures both authentication and integrity of the elect...

We present Bitcoin Security Tables computing the probability of success p(z, q, t) of a double spend attack by an attacker controlling a share q of the hashrate after z confirmations in time t.

Policymakers and economists have expressed concern that spending cuts and tax increases (commonly referred to as the " fiscal cliff ") may push a slowly growing economy into recession in 2013. In summer 2012, policymakers particularly focused on how sequestration as delineated in the Budget Control Act (BCA) of 2011 (P.L. 112-25) might affect employment in the near term. (Sequestration refers t...