Modeling dynamic systems can be made using several instruments and techniques, simulation being among these. Simulation … using a specific set of rules. In many cases, simulation is the only possible solution for making such evaluations. In this … work we’ll show general considerations about possibilities of simulation dynamic systems using dedicated programs for …

This paper introduces an estimation procedure for a random effects probit model in presence of heteroskedasticity and a … likelihood ratio test for homoskedasticity. The cases where the heteroskedasticity is due to individual effects or idiosyncratic … heteroskedasticity. Furthermore, the power of the test increases with larger individual and time dimensions. The robustness analysis …