The econometrics of arms races

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.

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Year of publication:	2000
Authors:	Smith, Ron ; Dunne, J. Paul ; Nikolaidou, Eftychia
Published in:	Defence and Peace Economics. - Taylor & Francis Journals, ISSN 1024-2694. - Vol. 11.2000, 1, p. 31-43
Publisher:	Taylor & Francis Journals
Subject:	Arms races \| Econometrics \| Action-reaction models \| Richardson model

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009215276