Scandinavian Working Papers in Economics

Memorandum,
Oslo University, Department of Economics

Correlated Errors-in-Variables, too Few Instrumental Variables, and Bounds on Parameters.

J. Klette and Y. Willassen

Abstract: We present new results on parameter bounds for regression models with errors-in-variables. In particular, we show that the required conditions for the validity of the parameter bounds identify by Koopmans, Reiersol and others, can be fulfilled in cases where the measurement errors for different regressors are correlated.

Keywords: INSTRUMENTAL VARIABLES; ECONOMIC MODELS

JEL-codes: C13; C29; C43

29 pages, 1996

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