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You are very kind, Mr. Glenn. I appreciate very much your help. I wish you great happiness!

Thank you very much, Mr. Glenn;

But still, theoretically, what does allowing for "heterogeneous first-stage long-run coefficients" mean? When should it be applied? Why does it generally increments the likelyhood of the model?

Thank you very much in advance for your time.

When estimating using the Fully-modified OLS (FMOLS) method, selecting the "pooled" panel method, what is the "heterogeneous first-stage long-run coefficients" option for??? In which cases should it be selected, and in which cases not???