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Instrumental Variables: An Econometrician's Perspective

Listed author(s):
  • Imbens, Guido W.

    ()

    (Stanford University)

I review recent work in the statistics literature on instrumental variables methods from an econometrics perspective. I discuss some of the older, economic, applications including supply and demand models and relate them to the recent applications in settings of randomized experiments with noncompliance. I discuss the assumptions underlying instrumental variables methods and in what settings these may be plausible. By providing context to the current applications a better understanding of the applicability of these methods may arise.

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Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 8048.

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Length: 75 pages
Date of creation: Mar 2014
Handle: RePEc:iza:izadps:dp8048
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  28. Joshua D. Angrist & Kathryn Graddy & Guido W. Imbens, 2000. "The Interpretation of Instrumental Variables Estimators in Simultaneous Equations Models with an Application to the Demand for Fish," Review of Economic Studies, Oxford University Press, vol. 67(3), pages 499-527.
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