Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5096788 | Journal of Econometrics | 2010 | 11 Pages |
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.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Statistics and Probability
Authors
James J. Heckman, Sergio UrzĂșa,