Endogeneity lecture 1: What is an endogeneity problem?

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This video is part of an online module for my course Basic Econometric at University of Gothenburg, Sweden.
  1. MetricsProf
  2. Econometrics
  3. Statistics
  4. lecture
  5. undergraduate
  6. linear regression model
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Thank you this tutorial is very helpful as a
Business student.

FixcyJustin-wmid
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Guys, I need your advice .. my supervisor misled me with writing my master's thesis. First, he says that I need to run the OLS regression and then to check the Hausman specification test for endogeneity and next do the IV. I followed his advice, run the OLS, then checked the endogeneity, found that it existed, and then did the IV regression, and then compared the results with OLS regression. I wrote and sent the paper to him to check. However, he commented that it is methodologically wrong approach and I needed to do everything vice verse - first to check the Hausman specification test for endogeneity and run IV regression, then OLS. I am in a deadlock.. cannot understand what really he wants to see? What is the step by step logic/idea with endogeneity problem? What has to be done first, second, third... Please, advise...

TheBiggestOne