| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12980 |
| DP12980 Instrumental Variables in the Long Run | |
| Gregory Casey; Marc Klemp | |
| 发表日期 | 2018-06-07 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We study the interpretation of instrumental variable (IV) regressions that use historical or geographical instruments for contemporary endogenous regressors. We find that conventional IV regressions generally cannot estimate the long-run causal effect of an endogenous explanatory variable when there is a time gap between the instrument and the endogenous variable. We develop a model that can overcome this problem and apply our results to important topics in the field of economic growth, including the effect of institutions on economic growth. We find effects that are smaller than those estimated in the existing literature, demonstrating the quantitative importance of our study. |
| 主题 | Development Economics ; Economic History ; Macroeconomics and Growth |
| 关键词 | Long-run economic growth Instrumental variable regression |
| URL | https://cepr.org/publications/dp12980 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541788 |
| 推荐引用方式 GB/T 7714 | Gregory Casey,Marc Klemp. DP12980 Instrumental Variables in the Long Run. 2018. |
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