Monte Carlo simulation for panel data

[basher]

I want to conduct a Monte Carlo simulation to decide whether a pooled OLS or a random effects model is ideal for my (unbalanced) panel data. Any help is highly appreciated.

[TomDoan]

What type of MC simulation would answer that?

[basher]

I guess I framed the question incorrectly. Using a Monte Carlo simulation can I decide whether a pooled OLS or a random effects model is appropriate for my data? Is it still an inappropriate question?

[TomDoan]

Do you have a reference? I have no idea what you're thinking of doing.

[basher]

I do not have a reference. I have an unbalance panel. I want to check the finite sample properties of random effects (RE), fixed effects (FE) and pooled OLS for my data (N=25, avg. T=10). I applied the Hausman test and found that RE is chosen over FE. Between RE and pooled OLS models, the Breusch-Pagan LM test supports RE. But all these diagnostic checks have certain assumptions (e.g., required a balanced panel), which may not be satisfied by my data. So I thought that conducting a small-sample simulation for these estimators based on my own data instead of simulated data would provide complementary evidence regarding the robustness of the RE model. I hope I am clearer this time.