Estimator of What? A Note on Teaching Regressions in Introductory Econometrics

Deepti Goel ()

No 1646, GLO Discussion Paper Series from Global Labor Organization (GLO)

Abstract: The most widely used textbooks on Introductory Econometrics conflate three distinct population parameters: the population regression function (PRF), the conditional expectation function (CEF), and the causal effect. They also incorrectly suggest, and sometimes state, that the Conditional Mean Zero assumption implies causal interpretation of regression coefficients. I highlight these issues and show that by incorporating new notation these limitations can easily be overcome.

Keywords: Regressions; Least Squares; Conditional Mean Zero; Causal Inference (search for similar items in EconPapers)
JEL-codes: A22 C18 (search for similar items in EconPapers)
Date: 2025
New Economics Papers: this item is included in nep-ecm
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Working Paper: Estimator of What? A Note on Teaching Regressions in Introductory Econometrics (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:glodps:1646

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