Consistent Estimation with a Large Number of Weak Instruments∗

Abstract

This paper analyzes the conditions under which consistent estimation can be achieved in instrumental variables (IV ) regression when the available instruments are weak, in the local-to-zero sense of Staiger and Stock (1997) and using the many-instrument framework of Morimune (1983) and Bekker (1994). Our analysis of an extended k-class of estimators that… (More)

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Cite this paper

@inproceedings{Chao2002ConsistentEW, title={Consistent Estimation with a Large Number of Weak Instruments∗}, author={John Ching-Hao Chao and Norman R. Swanson}, year={2002} }