@TechReport{iza:izadps:dp8048, author={Imbens, Guido W.}, title={Instrumental Variables: An Econometrician's Perspective}, year={2014}, month={Mar}, institution={Institute of Labor Economics (IZA)}, address={Bonn}, type={IZA Discussion Paper}, number={8048}, url={https://www.iza.org/publications/dp8048}, abstract={I review recent work in the statistics literature on instrumental variables methods from an econometrics perspective. I discuss some of the older, economic, applications including supply and demand models and relate them to the recent applications in settings of randomized experiments with noncompliance. I discuss the assumptions underlying instrumental variables methods and in what settings these may be plausible. By providing context to the current applications a better understanding of the applicability of these methods may arise.}, keywords={noncompliance;potential outcomes;randomized experiments;simultaneous equations models;selection models;instrumental variables}, }