Computer class 4: Tomorrow, Wednesday 7 October!
Dear all,
Tomorrow is CC # 4! We will start by covering the topics we didn't have time for at CC # 3. In addition to that, we shall talk about some other very important issues, including identification, simultaneity bias and IV-estimation. We will, among other things, do some MC-simulations to get a grip of the "size" of the simultaneity bias, and we will also demonstrate how a "proper" instrument will fix the problem! This leads up to the next CC (CC # 5), where we will continue along the same lines and talk about weak identification, tests for overidentification and the estimation of simultaneous equation systems by full information maximum likelihood techniques! So, as you understand, very interesting and important topics ahead! Hope to see many of you tomorrow!
-André-