[01] Mohamed Reda Abonazel, Department of Applied Statistics and Econometrics, Institute of Statistical Studies and Research, Cairo University, Cairo, Egypt.

This paper considers making Monte Carlo simulation studies using R language. Monte Carlo simulation techniques are very commonly used in many statistical and econometric studies by many researchers. So, we propose a new algorithm that provides researchers with basics and advanced skills about how to create their R-codes and then achieve their simulation studies. Our algorithm is a general and suitable for creating any simulation study in statistical and econometric models. Moreover, we provide some empirical examples in econometrics as applications on this algorithm.

Autocorrelation Problem, Econometric Modeling, Graphical Presentation Methods, Ridge Estimation, Seemingly Unrelated Regressions Model

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