Instrumental Variables: An Econometrician's Perspective

Guido Imbens

No 8048, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: I review recent work in the statistics literature on instrumental variables methods from an econometrics perspective. I discuss some of the older, economic, applications including supply and demand models and relate them to the recent applications in settings of randomized experiments with noncompliance. I discuss the assumptions underlying instrumental variables methods and in what settings these may be plausible. By providing context to the current applications a better understanding of the applicability of these methods may arise.

Keywords: noncompliance; potential outcomes; randomized experiments; simultaneous equations models; selection models; instrumental variables (search for similar items in EconPapers)
JEL-codes: C01 (search for similar items in EconPapers)
Pages: 75 pages
Date: 2014-03
New Economics Papers: this item is included in nep-ger
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (73)

Published - published in: Statistical Science, 2014, 29 (3), 3232 - 358

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Working Paper: Instrumental Variables: An Econometrician's Perspective (2014)
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