Simultaneous-equation Estimation without Instrumental Variables
Statistics Theory
2017-09-28 v1 Applications
Methodology
Statistics Theory
Abstract
For a single equation in a system of linear equations, estimation by instrumental variables is the standard approach. In practice, however, it is often difficult to find valid instruments. This paper proposes a maximum likelihood method that does not require instrumental variables; it is illustrated by simulation and with a real data set.
Cite
@article{arxiv.1709.09512,
title = {Simultaneous-equation Estimation without Instrumental Variables},
author = {Eric Blankmeyer},
journal= {arXiv preprint arXiv:1709.09512},
year = {2017}
}