Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/35816 
Year of Publication: 
2009
Series/Report no.: 
IZA Discussion Papers No. 3980
Publisher: 
Institute for the Study of Labor (IZA), Bonn
Abstract: 
This paper compares the economic questions addressed by instrumental variables estimators with those addressed by structural approaches. We discuss Marschak's Maxim: estimators should be selected on the basis of their ability to answer well-posed economic problems with minimal assumptions. A key identifying assumption that allows structural methods to be more informative than IV can be tested with data and does not have to be imposed.
Subjects: 
Instrumental variables
structural approaches
Marschak's Maxim
JEL: 
C31
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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