Cited by 2,355Advanced Causal Inference TechniquesMonetary Policy and Economic ImpactSpatial and Panel Data Analysis

The DOI matches its Crossref record; 96 of the 233 references it cites were found in a registry or an index.

Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments

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Angrist, Joshua D, Krueger, Alan B·2001·Journal of Economic Perspectives

Abstract

Instrumental variables was first used in the 1920s to estimate supply and demand elasticities and later to correct for measurement error in single equation models. Recently, instrumental variables have been widely used to reduce bias from omitted variables in estimates of causal relationships. Intuitively, instrumental variables methods use only a portion of the variability in key variables to estimate the relationships of interest; if the instruments are valid, that portion is unrelated to the omitted variables. We discuss the mechanics of instrumental variables and the qualities that make for a good instrument, devoting particular attention to instruments derived from “natural experiments.”

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Research works printed but not linked: 6

  1. Angrist Joshua D, 1990, American Economic Review, 80, 313
  2. Bronars Stephen G, 1994, American Economic Review., 84, 1141
  3. Haavelmo Trygve, 1944, Econometrica, 1
  4. Levitt Steven D, 1997, American Economic Review, 87, 270
  5. Meyer Bruce D., W., 1995, American Economic Review, 85, 322
  6. Reiersøl Olav, 1945, Arkiv för Matematik, Astronomi och Fysik. 32a, 4, 1

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Metadata

Authors
Angrist, J. D., & Krueger, A. B.
Affiliations
  • Massachusetts Institute of Technology (US)
  • Princeton University (US)
Venue
Journal of Economic Perspectives
Published
2001-11-01
Volume
15
Issue
4
Pages
69-85
ISSN
0895-3309 (ISSN-L)
OpenAlex
W3123059484
Cited by
2,355
References
98
Citations by year
2026: 58 · 2025: 115 · 2024: 105 · 2023: 124 · 2022: 107 · 2021: 119 · 2020: 144 · 2019: 116 · 2018: 92 · 2017: 103 · 2016: 115 · 2015: 124 · 2014: 121 · 2013: 113 · 2012: 131
FWCI
28.80
Type
journal article
Language
en
Open access
Licence
other-oa
Locations
  • The Journal of Economic Perspectives (publishedVersion, other-oa)
  • RePEc: Research Papers in Economics (submittedVersion)
Topics
  • Physical Sciences › Mathematics › Statistics and Probability › Advanced Causal Inference Techniques
  • Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Spatial and Panel Data Analysis
Keywords
instrumental variables, identification, natural experiment, omitted variable bias, causal inference, supply and demand elasticities, measurement error, assessment validity, econometrics

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