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Comparing IV with structural models: What simple IV can and cannot identify

James Heckman and Sergio Urzua

Journal of Econometrics, 2010, vol. 156, issue 1, 27-37

Abstract: 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.

Keywords: Instrumental; variables; Structural; approaches; Marschak's; Maxim (search for similar items in EconPapers)
Date: 2010
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Related works:
Working Paper: Comparing IV with structural models: what simple IV can and cannot identify (2010) Downloads
Working Paper: Comparing IV with Structural Models: What Simple IV Can and Cannot Identify (2009) Downloads
Working Paper: Comparing IV With Structural Models: What Simple IV Can and Cannot Identify (2009) Downloads
Working Paper: Comparing IV with Structural Models: What Simple IV Can and Cannot Identify (2009) Downloads
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