On the interpretation of instrumental variables in the presence of specification errors: a reply
journal contributionposted on 2017-07-04, 10:33 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 Burkhard Raunig’s 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/Department of Economics
- VoR (Version of Record)