Next Article in Journal
On the Interpretation of Instrumental Variables in the Presence of Specification Errors: A Reply
Previous Article in Journal
Using a Theory-Consistent CVAR Scenario to Test an Exchange Rate Model Based on Imperfect Knowledge
Article Menu

Export Article

Reply published on 19 July 2017, see Econometrics 2017, 5(3), 32.

Comment of Econometrics 2015, 3(1), 55-64.

Open AccessComment
Econometrics 2017, 5(3), 31; doi:10.3390/econometrics5030031

On The Interpretation of Instrumental Variables in the Presence of Specification Errors: A Causal Comment

Economic Studies Division, Central Bank of Austria, Otto-Wagner-Platz 3, Vienna 1090, Austria
The views expressed in this paper do not necessarily reflect those of the Central Bank of Austria or the Eurosystem.
Academic Editors: In Choi, Steve Cook, Marc S. Paolella and and Jeffrey S. Racine
Received: 22 March 2017 / Revised: 9 June 2017 / Accepted: 11 July 2017 / Published: 18 July 2017
View Full-Text   |   Download PDF [191 KB, uploaded 26 July 2017]   |  

Abstract

Swamy et al. (2015) argue that valid instruments cannot exist when a structural model is misspecified. This note shows that this is not true in general. In simple examples valid instruments can exist and can help to estimate parameters of interest. View Full-Text
Keywords: causal inference; instrumental variable; omitted variable; structural model causal inference; instrumental variable; omitted variable; structural model
Figures

Figure 1

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

Scifeed alert for new publications

Never miss any articles matching your research from any publisher
  • Get alerts for new papers matching your research
  • Find out the new papers from selected authors
  • Updated daily for 49'000+ journals and 6000+ publishers
  • Define your Scifeed now

SciFeed Share & Cite This Article

MDPI and ACS Style

Raunig, B. On The Interpretation of Instrumental Variables in the Presence of Specification Errors: A Causal Comment. Econometrics 2017, 5, 31.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Econometrics EISSN 2225-1146 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top