The estimation of economic relationships often confronts the challenge of weak instruments – variables that are only weakly correlated with endogenous regressors. Such weakness can lead to substantial ...
Weak instrument robust inference is a critical area in econometrics that addresses the reliability of instrumental variable techniques when instruments exhibit only a feeble correlation with the ...
“LIKE elaborately plumed birds…we preen and strut and display our t-values.” That was Edward Leamer's uncharitable description of his profession in 1983. Mr Leamer, an economist at the University of ...