Dear list members,
I would appreciate it if someone could clarify the distinction between
Monte Carlo simulation and the parametric bootstrap. If I'm not
mistaken, one use of Monte Carlo simulation is to assess the sampling
distribution of an estimator. In contrast, the parametric bootstrap is
used to estimate the variance of a statistic and its sampling
distribution.
But don't both the Monte Carlo method and parametric bootstrap require
specifying a data generating process? It is at this point where I'm a
little confused and fail to see the distinction between the two methods.
Also note that I am not talking about the non-parametric bootstrap.
Thank you for your help.
Richard
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