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Mismeasured Variables in Econometric Analysis: Problems from the Right and Problems from the Left

Jerry Hausman

Journal of Economic Perspectives, 2001, vol. 15, issue 4, 57-67

Abstract: The effect of mismeasured variables in the most straightforward regression analysis with a single regressor variable leads to a least squares estimate that is downward biased in magnitude toward zero. I begin by reviewing classical issues involving mismeasured variables. I then consider three recent developments for mismeasurement econometric models. The first issue involves difficulties in using instrumental variables. A second involves the consistent estimators that have recently been developed for mismeasured nonlinear regression models. Finally, I return to mismeasured left hand side variables, where I will focus on issues in binary choice models and duration models.

JEL-codes: C30 (search for similar items in EconPapers)
Date: 2001
Note: DOI: 10.1257/jep.15.4.57
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Handle: RePEc:aea:jecper:v:15:y:2001:i:4:p:57-67