Arbeitspapier

Viewpoint: Estimating the Causal Effects of Policies and Programs

Estimation, inference and interpretation of the causal effects of programs and policies have all advanced dramatically over the past 25 years. We highlight three particularly important intellectual trends: an improved appreciation of the substantive importance of heterogeneous responses and of their methodological implications, a stronger focus on internal validity brought about by the "credibility revolution," and the scientific value that follows from grounding estimation and interpretation in economic theory. We discuss a menu of commonly employed partial equilibrium approaches to the identification of causal effects, emphasizing that the researcher's central intellectual contribution always consists of making an explicit case for a specific causal interpretation given the relevant economic theory, the data, the institutional context and the economic question of interest. We also touch on the importance of general equilibrium effects and full cost-benefit analyses.

Sprache
Englisch

Erschienen in
Series: IZA Discussion Papers ; No. 10108

Klassifikation
Wirtschaft
Methodological Issues: General
Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
Single Equation Models: Single Variables: Instrumental Variables (IV) Estimation
Econometric Modeling: General
Design of Experiments: General
Thema
causal effects
heterogeneous treatment effects
partial equilibrium identification

Ereignis
Geistige Schöpfung
(wer)
Smith, Jeffrey A.
Sweetman, Arthur
Ereignis
Veröffentlichung
(wer)
Institute for the Study of Labor (IZA)
(wo)
Bonn
(wann)
2016

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

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

Objekttyp

  • Arbeitspapier

Beteiligte

  • Smith, Jeffrey A.
  • Sweetman, Arthur
  • Institute for the Study of Labor (IZA)

Entstanden

  • 2016

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