12.3 In his study of the effect of incarceration on crime rates, suppose that Levitt had used...

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12.3 In his study of the effect of incarceration on crime rates, suppose that Levitt had used the number of lawyers per capita as an instrument. Would this instrument be relevant? Would it be exogenous? Would it be a valid instrument?

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Introduction To Econometrics

ISBN: 9781292071367

3rd Global Edition

Authors: James Stock, Mark Watson

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