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Title:Comparing IV with structural models: what simple IV can and cannot identify PDF Logo
Authors:Heckman, James Joseph
Urzúa, Sergio
Issue Date:2009
Series/Report no.:IZA discussion papers 3980
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.
Subjects:Instrumental variables
structural approaches
Marschak's Maxim
JEL:C31
Persistent Identifier of the first edition:urn:nbn:de:101:1-20090210196
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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