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    The econometrics of arms races

    Smith, Ron P. and Dunne, J.P. and Nikolaidou, E. (2000) The econometrics of arms races. Defence and Peace Economics 11 (1), pp. 31-43. ISSN 1024-2694.

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    There is now a large empirical literature on estimating arms races. This paper surveys some of the econometric issues involved in estimating action‐reaction models of such races. Starting from the traditional Richardson model, it examines issues of identification, specification, and the role of expectations and structural stability. This is done both for the case where the variables are stationary and where they may be I(1) and cointegrated.


    Item Type: Article
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Depositing User: Sarah Hall
    Date Deposited: 03 Nov 2020 18:48
    Last Modified: 02 Aug 2023 18:05


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