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

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
Econometrics 2017, 5(3), 31; https://doi.org/10.3390/econometrics5030031
Received: 22 March 2017 / Revised: 9 June 2017 / Accepted: 11 July 2017 / Published: 18 July 2017
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
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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. https://doi.org/10.3390/econometrics5030031

AMA Style

Raunig B. On The Interpretation of Instrumental Variables in the Presence of Specification Errors: A Causal Comment. Econometrics. 2017; 5(3):31. https://doi.org/10.3390/econometrics5030031

Chicago/Turabian Style

Raunig, Burkhard. 2017. "On The Interpretation of Instrumental Variables in the Presence of Specification Errors: A Causal Comment" Econometrics 5, no. 3: 31. https://doi.org/10.3390/econometrics5030031

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