Artikel

Using instrumental variables to establish causality

Randomized control trials are often considered the gold standard to establish causality. However, in many policy-relevant situations, these trials are not possible. Instrumental variables affect the outcome only via a specific treatment; as such, they allow for the estimation of a causal effect. However, finding valid instruments is difficult. Moreover, instrumental variables estimates recover a causal effect only for a specific part of the population. While those limitations are important, the objective of establishing causality remains; and instrumental variables are an important econometric tool to achieve this objective.

Sprache
Englisch

Erschienen in
Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2016 ; Bonn: Institute for the Study of Labor (IZA)

Klassifikation
Wirtschaft
Econometrics
Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation
Thema
natural experiments
quasi-natural experiments
treatment effects
local average treatment effect
omitted variable bias
reverse causality

Ereignis
Geistige Schöpfung
(wer)
Becker, Sascha O.
Ereignis
Veröffentlichung
(wer)
Institute for the Study of Labor (IZA)
(wo)
Bonn
(wann)
2016

DOI
doi:10.15185/izawol.250
Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Artikel

Beteiligte

  • Becker, Sascha O.
  • Institute for the Study of Labor (IZA)

Entstanden

  • 2016

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