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Comparing IV with Structural Models: What Simple IV Can and Cannot Identify

Sergio Urzua and James Heckman

No 200906, Working Papers from Geary Institute, University College Dublin

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)
New Economics Papers: this item is included in nep-ecm
Date: 2009-03-09
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http://www.ucd.ie/geary/static/publications/workingpapers/gearywp200906.pdf First version, 2009 (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 (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
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