Instrumental Variables: An Econometrician's Perspective

74 Pages Posted: 19 Mar 2014 Last revised: 6 Feb 2023

See all articles by Guido W. Imbens

Guido W. Imbens

Stanford Graduate School of Business

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Date Written: March 2014

Abstract

I review recent work in the statistics literature on instrumental variables methods from an econometrics perspective. I discuss some of the older, economic, applications including supply and demand models and relate them to the recent applications in settings of randomized experiments with noncompliance. I discuss the assumptions underlying instrumental variables methods and in what settings these may be plausible. By providing context to the current applications a better understanding of the applicability of these methods may arise.

Suggested Citation

Imbens, Guido W., Instrumental Variables: An Econometrician's Perspective (March 2014). NBER Working Paper No. w19983, Available at SSRN: https://ssrn.com/abstract=2411285

Guido W. Imbens (Contact Author)

Stanford Graduate School of Business ( email )

655 Knight Way
Stanford, CA 94305-5015
United States

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