Whenever the number of instruments equals the number of endogenous variables testing the validity of the instruments is not a feasible task. Based on recent econometric developments (Lewbel, 2012), this article aims at spreading among applied economists and econometricians an empirical strategy to overcome this setback, thus sidestepping the exact identification problem.
Testing the validity of instruments in an exactly identified equation / Ventura, Marco. - In: INTERNATIONAL JOURNAL OF COMPUTATIONAL ECONOMICS AND ECONOMETRICS. - ISSN 1757-1170. - (2018).
Testing the validity of instruments in an exactly identified equation
Marco Ventura
2018
Abstract
Whenever the number of instruments equals the number of endogenous variables testing the validity of the instruments is not a feasible task. Based on recent econometric developments (Lewbel, 2012), this article aims at spreading among applied economists and econometricians an empirical strategy to overcome this setback, thus sidestepping the exact identification problem.File allegati a questo prodotto
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