Let's take the bias out of econometrics

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Main author: Qin, Duo
Format: Journal Article           
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id eprints-26275
recordtype eprints
institution SOAS, University of London
collection SOAS Research Online
language English
language_search English
description This study exposes the cognitive flaws of ‘endogeneity bias’. It examines how conceptualisation of the bias has evolved to embrace all major econometric problems, despite extensive lack of hard evidence. It reveals the crux of the bias – a priori rejection of causal variables as conditionally valid ones, and of the bias correction by consistent estimators – modification of those variables by non-uniquely and non-causally generated regressors. It traces the flaws to misconceptions about error terms and estimation consistency. It highlights the need to shake off the bias to let statistical learning play an active and formal role in econometrics. JEL classification: B23, B40, C10, C50
format Journal Article
author Qin, Duo
author_facet Qin, Duo
authorStr Qin, Duo
author_letter Qin, Duo
title Let's take the bias out of econometrics
publisher Taylor and Francis
publishDate 2018
url https://eprints.soas.ac.uk/26275/

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