title: Change, Persistence and Convergence in NATO Member Defense Spending
abstract: This study presents an analysis and quantitative summary of 18 NATO member country defense spending over the period 1953-2020. Using recently developed econometric techniques, we explore the time series properties of change, persistence and convergence in two indicators of NATO defense spending data typically used in the literature: real (2019) US dollars and Percent of GDP. Our two indicator variables display a mix of positive, negative and zero trends over the sample period. The only NATO coun
journal: European Journal of Economics