Consider TSLS estimation with a single included endogenous v
Question and Solution
Consider TSLS estimation with a single included endogenous variable and a single instrument. Then the predicted value fr
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Consider TSLS estimation with a single included endogenous variable and a single instrument. Then the predicted value from the first-stage regression is Xn i = pn0 + pn1Zi . Use the definition of the sample variance and covariance to show that s XnY = pn1sZY and s 2 Xn = pn 1 2 s 2 Z. Use this result to fill in the steps of the derivation in Appendix 12.2 of Equation (12.4).
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