Lagged Variables Make Good Instruments…Not!

[From the working paper, “Lagged Variables as Instruments” by Yu Wang and Marc Bellemare, posted at “…applied econometricians often settle on less-than-ideal IVs in an effort to “exogenize” x … One such less-than-ideal identication strategy is the use of what…

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Thinking About Using Instrumental Variables? Think Again

[From the paper “Consistency without Inference: Instrumental Variables in Practical Application” by Alwyn Young, posted on his university webpage at London School of Economics] “I use Monte Carlo simulations, the jackknife and multiple forms of the bootstrap to study a…

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