Purpose – The aim of the paper is to provide a framework for benchmarking firm performance (profitability) using panel data. Further, to illustrate how the estimation results can be used for simulation (what if?) exercises. Design/methodology/approach – The authors apply the econometric...

This paper derives and estimates an econometric model of labour supply among sole parents in Australia, using modelling techniques which treat the labour supply decision as a utility maximising choice between a given number of discrete states. The model is then used to look at the likely effects...

The economics and statistics literature using computer simulation based methods has grown enormously over the past decades. Maximum Simulated Likelihood is a statistical tool useful for incorporating individual differences (called heterogeneity in the econometrics literature) and variations into...

This collection of methodological developments and applications of simulation-based methods were presented at a workshop at Louisiana State University in November, 2009. Topics include: extensions of the GHK simulator; maximum-simulated likelihood; composite marginal likelihood; and modelling and...