PDF-Previouslecture,wehaveshownhowinstrumentalvariablescanbeusefulinsolvin
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omittedvariables
measurementerror
InbothcaseswecoulduseOLSifwehavebetterdata
Todaywewillconsideranotherimportantformofendogeneitywhichissimultaneity
Simultaneityisaspeci ctypeofendogen
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