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Econometrics: Please be aware of the deadline (March 2, 2016) Please see attached screenshot for the STATA results and then clearly answer the
Econometrics:
Please be aware of the deadline (March 2, 2016)
Please see attached screenshot for the STATA results and then clearly answer the following seven questions.
(1) What is a weak instrument?
(2) Is distance to the nearest college a weak instrument? What evidence, if any, do the tables above provide?
(3) What is an invalid instrument?
(4) Is distance to the nearest college an invalid instrument? What evidence, if any,do the tables above provide?
(5) What is the standard error on the return to education as estimated by Ordinary Least Squares?
(6) What is the standard error on the return to education as estimated by the Instrumental Variables estimator?
(7) What about the Instrumental Variables estimator makes the standard error larger?
