Empirical Strategies in Economics: Illuminating the Path From Cause to Effect

Author:

Angrist Joshua D.12

Affiliation:

1. Department of Economics, MIT

2. NBER

Abstract

The view that empirical strategies in economics should be transparent and credible now goes almost without saying. By revealing for whom particular instrumental variables (IV) estimates are valid, the local average treatment effects (LATE) framework helped make this so. This lecture uses empirical examples, mostly involving effects of charter and exam school attendance, to illustrate the value of the LATE framework for causal inference. LATE distinguishes independence conditions satisfied by random assignment from more controversial exclusion restrictions. A surprising exclusion restriction is shown to explain why enrollment at Chicago exam schools reduces student achievement. I also make two broader points: IV exclusion restrictions formalize commitment to clear and consistent explanations of reduced‐form causal effects; the credibility revolution in applied econometrics owes at least as much to compelling empirical analyses as to methodological insights.

Publisher

The Econometric Society

Subject

Economics and Econometrics

Reference121 articles.

1. Bootstrap Tests for Distributional Treatment Effects in Instrumental Variable Models

2. Semiparametric instrumental variable estimation of treatment response models

3. Abdulkadiroglu, Atila, Josh D. Angrist, Sarah R. Cohodes, Susan M. Dynarski, Jon Fullerton, Thomas Kane, and Parag A. Pathak (2009): “Informing the Debate: Comparing Boston's Charter, Pilot and Traditional Schools,” The Boston Foundation.

4. Accountability and Flexibility in Public Schools: Evidence from Boston's Charters And Pilots

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