We investigate conditions sufficient for identification of average treatment effects using instrumental variables. First we show that the existence of valid instruments is not sufficient to identify any meaningful average treatment effect. We then establish that the combination of an instrument and a condition on the relation between the instrument and the participation status is sufficient for identification of a local average treatment effect for those who can be induced to change their participation status by changing the value of the instrument. Finally we derive the probability limit of the standard IV estimator under these conditions. It is seen to be a weighted average of local average treatment effects.

Evolution and Rationality Some Recent Game-Theoretic Results. Identification and Estimation of Local Average Treatment Effects

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Identification and Inference for Econometric Models: Essays in Honor of Thomas Rothenberg

https://link.springer.com/content/pdf/10.1057%2Fbm.2000.20.pdf

‘Trust — the social virtues and the creation of prosperity’

The general principles of Bayesian data analysis imply that models for survey responses should be constructed conditional on all variables that affect the probability of inclusion and nonresponse, which are also the variables used in survey weighting and clustering. However, such models can quickly become very complicated, with potentially thousands of poststratification cells. It is then a challenge to develop general families of multilevel probability models that yield reasonable Bayesian inferences. We discuss in the context of several ongoing public health and social surveys. This work is currently open-ended, and we conclude with thoughts on how research could proceed to solve these problems.

Struggles with survey weighting and regression modeling

We ask whether women's decisions to be in the labor force may be affected by the decisions of other women in ways not captured by standard models. We develop a model that augments the simple neoclassical framework by introducing relative income concerns into women's (or families') utility functions. In this model, the entry of some women into paid employment can spur the entry of other women, independently of wage and income effects. This mechanism may help to explain why, over some periods, women's employment appeared to rise faster than could be accounted for by the simple neoclassical model. We test the model by asking whether women's decisions to seek paid employment depend on the employment decisions of other women with whom relative income comparisons might be important. In particular, we look at the effects of sisters' employment on women's own employment. We find strong evidence that women's employment decisions are positively related to their sisters' employment decisions. We also take account of the possibility that this positive relationship arises from heterogeneity across families in unobserved variables affecting the employment decision. We conduct numerous empirical analyses to reduce or eliminate this heterogeneity bias. We also look at the relationship between husbands' relative income and wives' employment decisions. In our view, the evidence is largely supportive of the relative income hypothesis.

Relative Income Concerns and the Rise in Married Women's Employment

If individuals care about their status, defined as their rank in the distribution of conspicuous consumption, a fall in the level of visible inequality is likely to cause them to spend more on conspicuous goods due to increased status competition I examine this hypothesis using micro data from rural India Employing an identification strategy based on instrumental variables, I find robust evidence that visible inequality has a negative and significant impact on household conspicuous consumption Further, my results indicate that the increase in conspicuous expenditure in response to a fall in visible inequality is diverted from education spending which is perceived to have positive social externalities This suggests that traditional redistributive policies that seek to reduce the level of economic inequality, by encouraging ‘wasteful’ spending of households, might have adverse welfare consequences

/pdf/visible-inequality-status-competition-and-conspicuous-2768i6ltm3.pdf

Visible inequality, status competition, and conspicuous consumption: evidence from rural India

Peer effects in consumption in India: An instrumental variables approach using negative idiosyncratic shocks

Age at Marriage and Women's Labour Market Outcomes in India

We examine the impact of terrorism on social capital by exploiting variation in the 2014 European Social Survey administration dates coupled with the 2015 Charlie Hebdo attack in Paris, France. Using the difference‐in‐differences estimator, we find that the attack had a positive, causal impact on the overall level of social capital among French respondents. Further, the effect seems to be driven by an increase in institutional and interpersonal trust, as well as by engagement in social networks. This rise in social capital peaks in the immediate aftermath of the terrorist attack but subsequently decays to pre‐attack levels within approximately one month.

The Impact of Terrorism on Social Capital: Evidence from the 2015 Charlie Hebdo Paris Shooting

One of the most widely debated issues in indian public finances in current times is undoubtedly the proposed Goods and Services Tax (GST). Perceived as the ‘biggest tax overhaul since independence’...

Punarjit Roychowdhury

Papers

Visible inequality, status competition, and conspicuous consumption: evidence from rural India

Peer effects in consumption in India: An instrumental variables approach using negative idiosyncratic shocks

Age at Marriage and Women's Labour Market Outcomes in India

The Impact of Terrorism on Social Capital: Evidence from the 2015 Charlie Hebdo Paris Shooting

Vat And Gst In India - A Note: