Review on the Current Stochastic Numerical Methods for Econometric Analysis

Abstract

The main aim of this paper is to present and emphasize the contribution of stochastic numerical methods as must tools for the modern econometric modelisation. Indeed, the stochastic numerical methods play an important role in mathematical modelling and the econometric analysis because they model uncertainties that govern the real-world data. However these powerful tools are not well-known and understood by many economists and financial econometricians.