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|Title:||On the interpretation of instrumental variables in the presence of specification errors: a reply|
|Authors:||Swamy, P. A.V. B.|
Hall, Stephen G.
Tavlas, George S.
von zur Muehlen, Peter
|Citation:||Econometrics, 2017, 5(3), 32|
|Abstract:||[First paragraph] We appreciate the effort and thoughtfulness of Burkhard Raunig’s attempted critique of Swamy et al. (2015). As we show below, however, it is based on a misunderstanding of the distinction between simultaneous and recursive modeling.|
|Rights:||Copyright © the authors, 2017. This is an open-access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.|
|Appears in Collections:||Published Articles, Dept. of Economics|
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