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

James Heckman and Sergio Urzua

No CWP08/10, CeMMAP working papers from Centre for Microdata Methods and Practice, Institute for Fiscal Studies

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.

New Economics Papers: this item is included in nep-ecm
Date: 2010-04-24
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http://cemmap.ifs.org.uk/wps/cwp0810.pdf (application/pdf)

Related works:
Journal Article: 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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Persistent link: https://EconPapers.repec.org/RePEc:ifs:cemmap:08/10

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