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Comparing IV With Structural Models: What Simple IV Can and Cannot Identify / James J. Heckman, Sergio Urzua.
- Format:
- Book
- Author/Creator:
- Heckman, James J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w14706.
- NBER working paper series no. w14706
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Comparing IV With Structural Models
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2009.
- Summary:
- This paper compares the economic questions addressed by instrumental variables estimators with those addressed by structural approaches. We discuss Marschak's Maxim: estimators should be selected on the basis of their ability to answer well-posed economic problems with minimal assumptions. A key identifying assumption that allows structural methods to be more informative than IV can be tested with data and does not have to be imposed.
- Notes:
- Print version record
- February 2009.
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