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Chapter 4. Instrumental Variables by azerty is a document available to read on EtoBox.

What is Chapter 4. Instrumental Variables about?

This document discusses instrumental variables (IV) estimators and their properties. IV estimators can be used when ordinary least squares is inconsistent due to endogeneity in explanatory variables. The optimal IV estimator is derived as an analog to generalized least squares. Two-stage least squares is presented as an interpretation of the IV estimator and a feasible generalized two-stage least squares procedure is described.

Author

azerty

Language

EN