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Random Effects ModelHypothesis Testing Heteroscedasticity H0: θ2=0 | θ1=0 H0: θ1=0 | θ2=0 H0: θ2=0, θ1=0 Random Effects ModelHypothesis Testing Heteroscedasticity (Cont.) Based on random effects model with homoscedasticity: Random Effects ModelHypothesis Testing Heteroscedasticity (Cont.) Random Effects ModelHypothesis Testing Heteroscedasticity (Cont.) Baltagi, B., Bresson, G., Pirotte, A. (2006) Joint LM test for homoscedasticity in a one-way error component model. Journal of Econometrics, 134, 401-417. Random Effects ModelHypothesis Testing Autocorrelation: AR(1) Based on random ef