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Let the data speak?

on the umportance of theory-based instrumental variable estimations

Volker Grossmann (University of Fribourg, CESifo, CReAM, University College London and IZA), Aderonke Osikominu (University of Hohenheim, IAB, CEPR, CESifo and IZA) ; IZA Institute of Labor Economics

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...

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Bibliographic details
Volume: no. 12080
Main Author: Grossmann, Volker
Osikominu, Aderonke
Format: eBook
Language: English
Related: Forschungsinstitut zur Zukunft der Arbeit ¬[Herausgebendes Organ]
Ort : Verlag : ErscheinungsdatumBonn, Germany : IZA Institute of Labor Economics : January 2019
Extent: 1 Online-Ressource (37 Seiten) : Diagramme
Umfang: (Dateityp; Kodierungsformat)Textdatei; PDF
Series: Discussion paper series / IZA Institute of Labor Economics ; no. 12080
Links: Fulltext
HBZ-ID: HT019947180 » further libraries in North Rhine-Westphalia
Database: ULB Bonn