S4E03 Two-Stage Least Squares Strikes Back
Quantitude
MIV Two SLS SEM - The Cornerstone to MIVs EO
MIVs EO is the cornerstone to MIVs SEM. It's actually there three acronyms that you use as it's MIV two SLS SEM. There are five core steps that he lays out in this. Step one is what we do in all of it, right? Do it. Specification, identification, estimation, evaluation, respecification, interpretation, interpretation,interpretation, interpretation and so on. All right. We're talking about latent variable models. So we have latent factors that are multiple indicators. The question is how can we deal with this instrumental variable problem?"
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