On the Interpretation of Instrumental Variables in the Presence of Specification Errors: A Reply
journal contributionposted on 2019-09-13, 11:09 authored by P. A. V. B. Swamy, Stephen G. Hall, George S. Tavlas, Peter Von zur Muehlen
[First paragraph] We appreciate the effort and thoughtfulness of Raunig’s (2017) attempted critique of Swamy et al. (2015). As we show below, however, it is based on a misunderstanding of the distinction between simultaneous and recursive modeling.
CitationEconometrics 2017, 5(3), 32;
Author affiliation/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/School of Business
- VoR (Version of Record)