This paper explores the impact of wartime military spending on postwar U.S. fiscal policy, with a particular focus on the "ratchet effect" in taxes and transfers. Through econometric analysis, we investigate how changes in defense spending during and after conflicts shape long-term federal...

The nexus between trade and economic growth in Italy has been widely debated by historiography. However, there are no long run analyses on this topic that cover the whole span from Unification to present days. This paper contributes to fill this gap by investigating the relationship between real...