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Becker, Sascha O. (2016) Using instrumental variables to establish causality. IZA World of Labor (250). doi:doi:10.15185/izawol.250
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Official URL: http://dx.doi.org/10.15185/izawol.250
Abstract
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.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Divisions: | Faculty of Social Sciences > Economics | ||||
| Journal or Publication Title: | IZA World of Labor | ||||
| Publisher: | IZA | ||||
| ISSN: | 2054-9571 | ||||
| Official Date: | April 2016 | ||||
| Dates: |
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| Number: | 250 | ||||
| DOI: | doi:10.15185/izawol.250 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Open Access |
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