This paper is concerned with maximum likelihood based inference in random effects models with serial correlation. Allowing for individual effects we introduce serial correlation of general form in the time effects as well as the idiosyncratic errors. A straightforward maximum likelihood...

The first electronic Economics preprint appeared in 1993. Since then the growth has been dramatic as the use of the World Wide Web has exploded. RePEc has been instrumental in facilitating access to Economics preprints and in bringing order to the chaos that the WWW frequently represents. In a...