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Introduction to Instrumental Variables (IV)

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    - [Narrator] The path from cause
    to effect is dark and dangerous.
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    But the weapons
    of Econometrics are strong.
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    [Attack] with fierce
    and flexible instrumental variables
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    when nature blesses you
    with fortuitous random assignment.
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    [gong rings]
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    Randomized trials are the surest
    path to ceteris parabus comparisons.
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    Alas, this powerful tool
    is often unavailable.
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    But sometimes, randomization
    happens by accident.
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    That's when we turn
    to instrumental variables,
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    IV for short.
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    - [Voice whispers] Instrumental
    variables.
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    - [Narrator] Today's lesson
    is the first of two on IV.
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    Our first IV lesson begins
    with a story of schools.
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    - [Josh] Charter schools
    are public schools
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    freed from daily district oversight
    and teacher union contracts.
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    The question of whether charters
    boost achievement
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    is one of the most important
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    in the history
    of American education reform.
Title:
Introduction to Instrumental Variables (IV)
Description:

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Video Language:
English
Team:
Marginal Revolution University
Project:
Mastering Econometrics
Duration:
12:57

English subtitles

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