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- Bjerkholt, O., 2015. Fellowship elections in the Econometric Society 1933-1948. Working Paper, Department of Economics, University of Oslo.
- Deuchert, E. and M. Huber, 2014. A cautionary tale about control variables in IV estimation. Discussion Paper No. 2014-39, School of Economics and Political Science, University of St. Gallen.
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Saturday, January 31, 2015
Some Suggested Reading
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Thanks David.
ReplyDeleteI would note that the paper by Deuchert and Huber draws attention to an important point, but while the empirical applications are informative the conceptual aspect is not novel. Outside of the structural literature, Angrist and Pischke (in 'Mostly Harmless Econometrics') note the problem of timing under the rubric of 'bad control' (see p.64-68) and Pearl ('Causality', 2000 and 2009) himself has a a number of discussions of IVs, including the question of temporal ordering. Finally, while less familiar with it, my impression is that many of these insights are implicit in Chalak and White's work on 'settable systems'. I have also pointed out some of the issues in the second part of a working paper directed more at the philosophy of causality/economics literature: http://opensaldru.uct.ac.za/handle/11090/176