Let the Data Speak? On the Importance of Theory-Based Instrumental Variable Estimations

In absence of randomized-controlled experiments, identification is often aimed via instrumental variable (IV) strategies, typically two-stage least squares estimations. According to Bayes’ rule, however, under a low ex ante probability that a hypothesis is true (e.g. that an excluded instrument is p...

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Bibliographic details
Volume: 20
Main Author: Grossmann, Volker
Osikominu, Aderonke
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: HOBOKEN De Gruyter 01.12.2019
WILEY
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published in: German economic review (Oxford) Vol. 20; no. 4; pp. 831 - 851
Data of publication: 2019-12-01
ISSN: 1465-6485
1468-0475
EISSN: 1468-0475
Discipline: Economics
Subjects:
Online Access: Fulltext
Database: Social Sciences Citation Index
Web of Knowledge
Web of Science - Social Sciences Citation Index – 2019
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