On The Interpretation of Instrumental Variables in the Presence of Specification Errors: A Causal Comment

Swamy et al. (2015) argue that valid instruments cannot exist when a structural model is misspecified. This note shows that this is not true in general. In simple examples valid instruments can exist and can help to estimate parameters of interest.

Saved in:
Bibliographic details
Volume: 5
Main Author: Raunig, Burkhard
Format: Journal Article
Language: English
Place of publication: Basel MDPI AG 18.07.2017
published in: Econometrics Vol. 5; no. 3; p. 31
Data of publication: 2017-07-18
ISSN: 2225-1146
2225-1146
EISSN: 2225-1146
Discipline: Economics
Subjects:
Online Access: Fulltext
Database: CrossRef
ProQuest Central (Corporate)
ABI/INFORM Collection
ABI/INFORM Global (PDF only)
ProQuest Central (purchase pre-March 2016)
ABI/INFORM Global (Alumni Edition)
ProQuest Central (Alumni) (purchase pre-March 2016)
ABI/INFORM Collection (Alumni Edition)
ProQuest Central (Alumni Edition)
ProQuest Central Essentials
ProQuest Central
Business Premium Collection
ProQuest Central Korea
Business Premium Collection (Alumni)
ABI/INFORM Global (Corporate)
ProQuest Business Collection (Alumni Edition)
ProQuest Business Collection
ABI/INFORM Professional Advanced
ABI/INFORM Global
Publicly Available Content Database
ProQuest One Business
ProQuest One Business (Alumni)
ProQuest One Academic Eastern Edition
ProQuest One Academic
ProQuest One Academic UKI Edition
ProQuest Central China
ABI/INFORM Collection China
ProQuest Central Basic
DOAJ Directory of Open Access Journals
Database information Databases - DBIS