If I fill a selection and add a dymamic effect like drop shadow for instance and I get the little Æ’ symbol and some sub layers. I was wondering if it was possible to squash all the effects together so the layer is not dynamic any more.

I checked Layer>rasterise but it is greyed out.

I have just discovered that I can create an empty layer below it and merge it with this blank layer and I get what I want but it seems like there should be a command to do this. Is there?