Instrumental Variables: An Econometrician's Perspective

Guido Imbens

No 19983, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: C01 (search for similar items in EconPapers)
Date: 2014-03
New Economics Papers: this item is included in nep-ecm and nep-lma
Note: LS
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Citations: View citations in EconPapers (73)

Published as Guido W. Imbens, 2014. "Instrumental Variables: An Econometrician’s Perspective," Statistical Science, vol 29(3), pages 323-358.

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