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1. Describe each of the five assumptions (or more, since it's better!) required for an instrumental variable's analysis. 2. Label the three assumptions represented

1. Describe each of the five assumptions (or more, since it's better!) required for an instrumental variable's analysis. 2. Label the three assumptions represented in the diagram below. ZD Y X 3. Why is the effect measured from an instrumental variables approach referred to as the local average treatment effect?

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