Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/46171
Authors: 
Heckman, James J.
Schmierer, Daniel
Year of Publication: 
2010
Series/Report no.: 
Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5205
Abstract: 
This paper examines the correlated random coefficient model. It extends the analysis of Swamy (1971, 1974), who pioneered the uncorrelated random coefficient model in economics. We develop the properties of the correlated random coefficient model and derive a new representation of the variance of the instrumental variable estimator for that model. We develop tests of the validity of the correlated random coefficient model against the null hypothesis of the uncorrelated random coefficient model.
Subjects: 
correlated random coefficient models
instrumental variables
JEL: 
C31
Document Type: 
Working Paper

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