Feasible IV regression without excluded instruments
无排除工具变量时的可行工具变量回归
Summary The relevance condition of integrated conditional moment (ICM) estimators is significantly weaker than the conventional instrumental variable's in at least two respects: (1) consistent estimation without excluded instruments is possible, provided endogenous covariates are nonlinearly mean-dependent on exogenous covariates, and (2) endogenous covariates may be uncorrelated with but mean-dependent on instruments. These remarkable properties notwithstanding,…