Comparing IV with Structural Models: What Simple IV Can and Cannot Identify
Sergio Urzua and
No 200906, Working Papers from Geary Institute, University College Dublin
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)
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http://www.ucd.ie/geary/static/publications/workingpapers/gearywp200906.pdf First version, 2009 (application/pdf)
Journal Article: Comparing IV with structural models: What simple IV can and cannot identify (2010)
Working Paper: Comparing IV with structural models: what simple IV can and cannot identify (2010)
Working Paper: Comparing IV with Structural Models: What Simple IV Can and Cannot Identify (2009)
Working Paper: Comparing IV With Structural Models: What Simple IV Can and Cannot Identify (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ucd:wpaper:200906
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