> since you
> can always consider the explanatory variable as non stochastic
>
this seems to be rather strong statement. You can treat
regressors as non-stochastic if you have control over it. So, it seems to
me that the only case when you can treat regressors as fixed is when your
data is coming from some designed experiment. I do not know what is your
field of study, but if it's social science then you have a problem. In
social science most of the data is measurement of uncontrolled (by
researcher) processes and cannot be treated as fixed.
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