Skip to main content
Article thumbnail
Location of Repository

The non-existence of instrumental variables

By P. A. V. B. Swamy, George S. Tavlas and Stephen G. Hall

Abstract

The method of instrumental variables (IV) and the generalized method of moments (GMM) and their applications to the estimation of errors-in-variables and simultaneous equations models in econometrics require data on a sufficient number of instrumental variables which are (insert space) both exogeneous and relevant. We argue that in general such instruments (weak or strong) cannot exist

Publisher: Dept. of Economics, University of Leicester
Year: 2009
OAI identifier: oai:lra.le.ac.uk:2381/7608

Suggested articles

Citations

  1. (1988). On the interpretation and observation of laws, doi
  2. (2001). Random Coefficient Models, Ch 19. doi
  3. (2007). The new Keynesian Phillips curve and inflation expectations: Re-specification and interpretations, doi
  4. (2009). The new Keynesian Phillips curve and lagged inflation: A case of spurious correlation? doi
  5. (2009). The new Keynesian Phillips curve in a time-varying coefficient environment: Some European evidence, doi
  6. (2008). The Nonexistence of Instrumental Variables
  7. (1985). The theory and practice of econometrics, 2 nd edn. doi

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.