of random parameters models that accommodate cross-sectional parameter heterogeneity. A Monte Carlo simulations exercise … efficiencies obtained from random parameters models tend to be higher than those obtained using fixed or random effects, because … random parameters models do not confound parameter heterogeneity with inefficiency. Using a random parameters model, we …

of random parameters models that accommodate cross-sectional parameter heterogeneity. A Monte Carlo simulations exercise … efficiencies obtained from random parameters models tend to be higher than those obtained using fixed or random effects, because … random parameters models do not confound parameter heterogeneity with inefficiency. Using a random parameters model, we …