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August 2014 Instrumental Variables: An Econometrician’s Perspective
Guido W. Imbens
Statist. Sci. 29(3): 323-358 (August 2014). DOI: 10.1214/14-STS480


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.


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Guido W. Imbens. "Instrumental Variables: An Econometrician’s Perspective." Statist. Sci. 29 (3) 323 - 358, August 2014.


Published: August 2014
First available in Project Euclid: 23 September 2014

zbMATH: 1331.62471
MathSciNet: MR3264545
Digital Object Identifier: 10.1214/14-STS480

Keywords: noncompliance , potential outcomes , randomized experiments , selection models , Simultaneous equations models

Rights: Copyright © 2014 Institute of Mathematical Statistics

Vol.29 • No. 3 • August 2014
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