Abstract
In this paper we propose a simple L1-GMM consistent estimator for linear structural equations models when some instruments are invalid. A simple method to detect invalid instruments is also proposed.
Original language | English |
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Pages (from-to) | 285-287 |
Number of pages | 3 |
Journal | Economics Letters |
Volume | 101 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2008 Dec |
Keywords
- Instrumental variables
- Invalid instruments
- L-GMM
- Over-identification test
ASJC Scopus subject areas
- Finance
- Economics and Econometrics