The Logic of Instrumental Variables: Causal Inference Bootcamp

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Here we describe the main idea behind instrumental variables analysis.

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I'm in an econometrics course and while studying for my final I realized that even though we had three lectures on instrumentation and I knew it was important in coming up with causal conclusions, I realized I had no idea why. This was helpful thanks!!

NatalieSamuel

Thanks so much for making this material and making it public, it has been extremely helpful for my exam review!

soniabarbosa

This is the intro I desperately need. Thanks.

lowerlowerhk

Thank you very much for these clear and precise explanations, you have made my econometrics courses much easier !

qassimo

This was the best explanation! so easy to understand (I'm only a master of nursing student doing a course on descriptive statistics). I had so many 'AHA!' moments!!

MChell

Thank you so much for this clear explainations I can now start understanding IV

esthernamono

Not clear on when we can reasonably justify these assumptions for steps 3, 4 and 5. How do we know when we are correctly assuming something?

donharris

1, 2, 3, 5 is quite clear, but 4 and 6 should be explained again. How to assume the instrument is randomly assigned? how to test it is random or not?

shichengguo

Informative video, love from Afghanistan

shafiqullahyousafzai

Assumption two is incorrectly stated. We assume that the instrument does not have a direct causal effect on the outcome. It should have an indirect effect through the treatment(s) that we want to learn about, or be a proxy of a variable that does.

Assumption three does not imply an indirect effect. It only does so if we assume faithfulness.

guitarflori

Very clear explanation, but how often do we encounter instrumental variables in reality?

If subjects are randomly assigned the instrumental variable which causes the treatment variable, it basically sounds like a "natural" experiment.

RobertWF

Wow! This is GREAT!

I have, at least, two questions.
1. In bullets 2, 3, and 4, you use the word "assume". Does this mean we only need to logically explain this assumption?
2. How is this different from mediation analysis of between?

I am hoping for your favorable response. Thanks.

theandy

is the treatment considered the independent variable?

lawl

This saved my econometrics class grade thank you

desperatewanderer

excellent explanation. Concise but well explained

riamishra

In the case when IV is positively correlated to Treatment, and Treatment is negatively correlated to Outcome variable, would we still observe correlation between IV and outcome variable?

garyboy

I don´t understand why you said that the treatment doesn´t really have an effect on the outcome. It is because it needs an IV to promote an effect?

Pooh

This seems to depend upon randomization to evenly distribute other confounders, which isn't always the case. Randomization works on average, but it can fail in any instant

tws

Would you please elaborate the term "confounder", you are frequently using? The material is very helpful.

kaushalbhattarai

Thank you so much - Great explanation!

arunaugustine

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