Computing power now allows empirical researchers to use intensive computing estimation techniques with nonlinear panel-data models. Maximum Likelihood estimation is often cumbersome, if not analytically intractable, when dealing with such models. Even the simple calculation of the likelihood...

Advances in computing power allow the empirical researcher to use intensive computional techniques to solve and estimate nonlinear panel-data models, specifically those arising from nonlinear panel data such as Probit and Tobit models. In these cases, maximum-likelihood estimation can be...