Franco Peracchi IV and GMM under weak instruments Spring 2011 Course outline 1. The instrumental variables (IV) method Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Ї Inconsistency of OLS The simple IV estimator The class of IV estimators Sampling properties Estimates of statistical precision Hypothesis testing 2SLS Motivating examples Definitions and basic models The bias of 2SLS Standard asymptotic approximations Alternative asymptotic approximations Detecting weak ...

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