Endogeneity and Instrumental Variables Animation (Beginner)
Introduction to endogeneity problem and instrumental variables in the context of returns to education. Instrumental variable is a very popular Econometric methodology used to estimate causal effects in observational data.
Details on animation tool: • Math and Animation Tool Tutorial
References and other resources on instrumental variables:
• Endogeneity and Instrumental Variables
• The Logic of Instrumental Variables: Causa...
• Instrumental Variables in Action: Educatio...
• The 3 Assumptions of Instrumental Variable...