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Autor:innen: 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
Working Paper No. 0918
Verlag: 
University of Zurich, Socioeconomic Institute, Zurich
Zusammenfassung: 
The credibility of standard instrumental variables assumptions is often under dispute. This paper imposes weak monotonicity in order to gain information on counterfactual outcomes, but avoids independence or exclusion restrictions. The outcome process is assumed to be sequentially ordered, building up and depending on the information level of agents. The potential outcome distribution is assumed to weakly increase (or decrease) with the instrument, conditional on the continuation up to a certain stage. As a general result, the counterfactual distributions can only be bounded, but the derived bounds are informative compared to the no-assumptions bounds thus justifying the instrumental variables terminology. The construction of bounds is illustrated in two data examples.
Schlagwörter: 
nonparametric bounds
treatment effects
endogeneity
binary choice
monotone instrumental variables
policy evaluation
JEL: 
C14
C25
C35
Dokumentart: 
Working Paper

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