期刊
JOURNAL OF ECONOMETRICS
卷 156, 期 1, 页码 27-37出版社
ELSEVIER SCIENCE SA
DOI: 10.1016/j.jeconom.2009.09.006
关键词
Instrumental variables; Structural approaches; Marschak's Maxim
资金
- Economic and Social Research Council [RES-544-28-5001] Funding Source: researchfish
- NICHD NIH HHS [R01 HD043411, R01 HD054702, R01 HD054702-02] Funding Source: Medline
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. (C) 2009 Elsevier B.V. All rights reserved.
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