Title of article :
The asymptotic distribution of the instrumental variable estimators when the instruments are not correlated with the regressors
Author/Authors :
Chirok Han، نويسنده , , Peter Schmidt، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2001
Abstract :
When the instruments are irrelevant, the IV estimator is neither consistent nor asymptotically normal. This paper calculates the mean of its asymptotic distribution and shows that it equals the probability limit of the OLS estimator
Keywords :
Instrumental variables , Irrelevant instruments , Weak instruments
Journal title :
Economics Letters
Journal title :
Economics Letters