01774cas a2200265 a 4500 AALejournalIMF004026 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451843460 1018-5941 BD-DhAAL BD-DhAAL Schiff, Jerald. Economic Consequences of Lower Military Spending : Some Simulation Results / Jerald Schiff, Tamim Bayoumi, Daniel Hewitt. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (48 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The IMF MULTIMOD model is used to trace the economic impact of a 20 percent reduction in world military expenditures. GDP falls in the short run, however private consumption and investment rise, leading to an increase in GDP in the medium and long run. The estimated gains to economic welfare are substantial, particularly for developing countries, although most of these gains are realized in the long run. A positive international economic externality is found to exist, implying that for any given country the economic gains from a coordinated reduction in military expenditures exceed the gains from a unilateral reduction. Mode of access: Internet Bayoumi, Tamim. Hewitt, Daniel. IMF Working Papers; Working Paper ; No. 1993/017 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/017/001.1993.issue-017-en.xml IMF e-Library