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Reducing the Asymptotic Bias of Weak Instruments Estimation Using Independently Repeated Cross-sectional Information

Zongwu Cai and Ying Fang ()

No 2013-10-14, Working Papers from Wang Yanan Institute for Studies in Economics (WISE), Xiamen University

Abstract: We show that independently repeated cross-sectional data can reduce the asymptotic bias when instruments are weakly correlated to the endogenous variables. When both N and T go to infinite, we can obtain consistent estimators even if instruments are weak.

Keywords: Bias reduction; Weak instruments; Panel data. (search for similar items in EconPapers)
JEL-codes: C13 C33 (search for similar items in EconPapers)
Date: 2013-10-14
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Related works:
Journal Article: Reducing asymptotic bias of weak instrumental estimation using independently repeated cross-sectional information (2012) Downloads
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