Instrumental Variables: An Econometrician's Perspective
Methodology
2014-10-02 v1
Abstract
I review recent work in the statistics literature on instrumental variables methods from an econometrics perspective. I discuss some of the older, economic, applications including supply and demand models and relate them to the recent applications in settings of randomized experiments with noncompliance. I discuss the assumptions underlying instrumental variables methods and in what settings these may be plausible. By providing context to the current applications, a better understanding of the applicability of these methods may arise.
Cite
@article{arxiv.1410.0163,
title = {Instrumental Variables: An Econometrician's Perspective},
author = {Guido W. Imbens},
journal= {arXiv preprint arXiv:1410.0163},
year = {2014}
}
Comments
Published in at http://dx.doi.org/10.1214/14-STS480 the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org)