Recent Applications of Generalized Instrumental Variable Models
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This study comprehensively reviews recent developments in the application of the generalized instrument variable (GIV) framework introduced by Chesher and Rosen (2017, Econometrica). The GIV framework effectively derives sharp bounds (equivalent to identified sets) in incomplete models. Focusing on limited dependent variable models with endogeneity, this study demonstrates the application of general identification results to obtain the identified set in specific settings. Moreover, practical implementation challenges that may arise are discussed, and potential strategies for overcoming them are highlighted in empirical research.
Abstract
This study comprehensively reviews recent developments in the application of the generalized instrument variable (GIV) framework introduced by Chesher and Rosen (2017, Econometrica). The GIV framework effectively derives sharp bounds (equivalent to identified sets) in incomplete models. Focusing on limited dependent variable models with endogeneity, this study demonstrates the application of general identification results to obtain the identified set in specific settings. Moreover, practical implementation challenges that may arise are discussed, and potential strategies for overcoming them are highlighted in empirical research.