Essay
What is measurement error in an independent variable? How can instrumental variables be used to control for measurement error in independent variables? Why? Explain.
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Q1: Exogeneity of an independent variable occurs when<br>A)an
Q2: Endogeneity of an independent variable presents a
Q3: The first-stage in an instrumental variable approach
Q4: What are simultaneous equations? How can instrumental
Q5: What are endogenous independent variables? How can
Q7: Two-stage least squares can be used to<br>A)control
Q8: Simultaneous equations present a challenge because OLS
Q9: The first-stage in an instrumental variable approach
Q10: Two-stage least squares can be used to<br>A)account
Q11: Two-stage least squares can be used to<br>A)identify