S4E03 Two-Stage Least Squares Strikes Back
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MIV Two-Stagely Squares With MIVs
Two-stage least squares helps you with that. It doesn't cure it, but it really gets you quite a ways. We can tinker with the non-normality problem. But maximum likelihood is not going to help you fix them. Two-stagely squares with MIVs when done properly is also consistent and unbiased.
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