Avoiding Arbitrary Exclusion Restrictions Using Ratios of Reduced-Form Estimates
We show how to obtain coherent structural-form (SF) exclusion restrictions using the reduced-form (RF) parameter ratios. It will be shown that an over-identified SF corresponds to a group of regressors sharing the same RF ratio value; those regressors should be excluded jointly from the SF. If there...
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Main Authors: | Lee, Myoung-Jae, Chang, Pao-Li |
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Format: | text |
Language: | English |
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Institutional Knowledge at Singapore Management University
2007
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Online Access: | https://ink.library.smu.edu.sg/soe_research/313 https://ink.library.smu.edu.sg/context/soe_research/article/1312/viewcontent/RFratio2.pdf |
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Institution: | Singapore Management University |
Language: | English |
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