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Accurate analysis of system timing and voltage margin including deterministic and random jitter is crucial in high-speed I/O system designs. Traditional SPICE-based simulation techniques can precisely simulate various deterministic jitter sources, such as intersymbol interference (ISI) and crosstalk from passive channels. The inclusion of random jitter in SPICE simulations, however, results in long simulation time. Innovative simulation techniques based on a statistical simulation framework have been recently introduced to cosimulate deterministic and random jitter effects efficiently. This paper presents new improvements on this statistical simulation framework. In particular, we introduce an accurate jitter modeling technique which accounts for bounded jitter with arbitrary spectrum in addition to Gaussian jitter. We also present a rigorous approach to model duty cycle distortion (DCD). A number of I/O systems are considered as examples to validate the proposed modeling methodology.