Drakos, Konstantinos; Konstantinou, Panagiotis Th. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
Based on a trivariate panel VAR and utilizing Generalized Impulse Responses, we explored the dynamic impacts of terrorism and crime risks on public order and safety spending across European countries during the period 1994-2006. Our findings suggest that both a shock in terrorism risk or in...