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Comparing 2SLS vs 2SRI for binary outcomes and binary exposures

Author: Anirban Basu, (Professor of health economics); Norma B Coe; Cole G Chapman; National Bureau of Economic Research,
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2017.
Series: Working paper series (National Bureau of Economic Research), no. 23840.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This study uses Monte Carlo simulations to examine the ability of the two-stage least-squares (2SLS) estimator and two-stage residual inclusion (2SRI) estimators with varying forms of residuals to estimate the local average and population average treatment effect parameters in models with binary outcome, endogenous binary treatment, and single binary instrument. The rarity of the outcome and the treatment are varied  Read more...
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Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Anirban Basu, (Professor of health economics); Norma B Coe; Cole G Chapman; National Bureau of Economic Research,
OCLC Number: 1005737017
Notes: "September 2017"
Description: 1 online resource (34 pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 23840.
Responsibility: Anirban Basu, Norma Coe, Cole G. Chapman.

Abstract:

This study uses Monte Carlo simulations to examine the ability of the two-stage least-squares (2SLS) estimator and two-stage residual inclusion (2SRI) estimators with varying forms of residuals to estimate the local average and population average treatment effect parameters in models with binary outcome, endogenous binary treatment, and single binary instrument. The rarity of the outcome and the treatment are varied across simulation scenarios. Results show that 2SLS generated consistent estimates of the LATE and biased estimates of the ATE across all scenarios. 2SRI approaches, in general, produce biased estimates of both LATE and ATE under all scenarios. 2SRI using generalized residuals minimizes the bias in ATE estimates. Use of 2SLS and 2SRI is illustrated in an empirical application estimating the effects of long-term care insurance on a variety of binary healthcare utilization outcomes among the near-elderly using the Health and Retirement Study.

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