specific heterogeneity via random coe±cients. For accurate estimation of the treatment type model a simulated maximum …

volatility) for the current account using a panel data analysis for a set of 58 countries, over the period of 1994-2014. The …

Importance Sampling (EIS). It allows the ML estimation of panel probit models with various dynamic specifications for the error …We use panel probit models with unobserved heterogeneity and serially correlated errors in order to analyze the … determinants and the dynamics of current-account reversals for a panel of developing and emerging countries. The likelihood …