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
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Englisch
- Erschienen in
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Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2016 ; Bonn: Institute for the Study of Labor (IZA)
- Klassifikation
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Wirtschaft
Econometrics
Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation
- Thema
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natural experiments
quasi-natural experiments
treatment effects
local average treatment effect
omitted variable bias
reverse causality
- Ereignis
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Geistige Schöpfung
- (wer)
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Becker, Sascha O.
- Ereignis
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Veröffentlichung
- (wer)
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Institute for the Study of Labor (IZA)
- (wo)
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Bonn
- (wann)
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2016
- DOI
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doi:10.15185/izawol.250
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Becker, Sascha O.
- Institute for the Study of Labor (IZA)
Entstanden
- 2016