Heckman, James J. <br/><br/>
Comparing IV With Structural Models:  What Simple IV Can and Cannot Identify / 
James J. Heckman, Sergio Urzua. 
 - Cambridge, Mass.  National Bureau of Economic Research  2009. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w14706 .
 - Working Paper Series (National Bureau of Economic Research)  no. w14706. .
<br/><br/> February 2009. 
<br/><br/> This paper compares the economic questions addressed by instrumental variables estimators with those addressed by structural approaches. We discuss Marschak's Maxim: estimators should be selected on the basis of their ability to answer well-posed economic problems with minimal assumptions. A key identifying assumption that allows structural methods to be more informative than IV can be tested with data and does not have to be imposed. 
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