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Title:Comparing IV with structural models: What simple IV can and cannot identify PDF Logo
Authors:Heckman, James J.
Urzúa, Sergio
Issue Date:2010
Series/Report no.:cemmap working paper CWP08/10
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:doi:10.1920/wp.cem.2010.0810
Document Type:Working Paper
Appears in Collections:cemmap working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies (IFS)

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