Econometrics 09:10 Sep 18, 2020
Your reference reads: “4.8 Instrumental Variables A major complication that is emphasized in microeconometrics is the possibility of inconsistent parameter estimation due to endogenous regressors”. Wikipedia reads: “Instrumental variables estimation From Wikipedia, the free encyclopedia Jump to navigation Jump to search In statistics, econometrics, epidemiology and related disciplines, the method of instrumental variables (IV) is used to estimate causal relationships when controlled experiments are not feasible or when a treatment is not successfully delivered to every unit in a randomized experiment.” My reference reads: “Takashi Yamano Lecture Notes on Advanced Econometrics Lecture 8: Instrumental Variables Estimation”
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