Several formal methods have been proposed to check identification in DSGE models via (i) the autocovariogram (Iskrev 2010), (ii) the spectral density (Komunjer and Ng 2011; Qu and Tkachenko 2012), or (iii) Bayesian indicators (Koop et al 2012). Even though all methods seem similar, there has been no...

This note shows how to derive unconditional moments, cumulants and polyspectra of order higher than two for the pruned state-space of nonlinear DSGE models. Useful Matrix tools and computational aspects are also discussed.

Amid escalating geopolitical tensions, we offers insights into the far-reaching consequences of wars. Based on a new dataset on major conflicts since 1870, the findings show that wars cause a substantial decline in GDP and spike in inflation within war zones. Interestingly, countries...

In view of increasing geopolitical tensions, the economic consequences and costs of wars on the global economy are increasingly coming into focus. In their Kiel Policy Brief, the authors examine the costs of more than 150 wars since 1870. In the immediate theaters of war alone, real GDP falls by...

In an integrated global economy, the economic fallout of war is not confined to the country where the conflict is fought but spills over to other countries. We study the economic effects of large interstate wars using a new data set spanning 150 years of data for more than 60 countries. War on a...