If you are trying to duplicate the effects of change in contrast due to the atmosphere, my opinion is no. If you are duplicating the effects of the UV in sunlight that cause chalking, that has some validity.
Lets talk about scale effect for a minute. Unless it is an extremely foggy day, the contrast reduction effects of the atmosphere do not show up for several hundred feet. Your typical viewing distance of a 1:48 scale airplane is not that great. I do recommend simulating this effect for ships, say 1:350 and smaller, maybe even 1:192. But not for most airplanes, cars or armor.
If the atmosphere is so foggy/hazy as to create contrast reduction at those distances, it would also blur edges. No one advocates blurry details on a model, though.
However, as I say, UV chalking is something else, but should be restricted to top surfaces of model, maybe just a touch on side surfaces (hence requires an airbrush to do well).
New aircraft painted with epoxy paints are much more resistant to chalking, but for WW2, all participants used paints very subject to UV deterioration. In addition to UV, paint oxidation also faded the colors.