A simple, non-mathematical and intuitive explanation of the endogeneity bias and the importance of the 2-stage least squares (2SLS) model.
This is one of the fundamental models of econometrics and is able to untangle causality from spurious correlations. It is crucial for anyone using non-experimental data to understand the 2SLS model.
Are you a business that needs some help data analytics? Contact me at www.taleum.co
I provide technical consulting and training seminars.
** DID YOU FIND THIS VIDEO HELPFUL? **
Check out a free preview of my complete NON-MATHEMATICAL introductory course on 2-Stage Least Squares: https://www.udemy.com/easy-2sls/?couponCode=DAV1
As my Youtube student, you get to enrol at a MASSIVE DISCOUNT! Come check it out! https://www.udemy.com/easy-2sls/?couponCode=DAV1
SUBSCRIBE at: https://www.youtube.com/subscription_center?add_user=quantconceptsedu
Keywords: 2SLS, 2-stage least squares, 2 stage least squares, endogeneity bias, exogeneity, econometrics, statistics, OLS regression, regression analysis, GMM, maximum likelihood, two-stage least squares, instrumental variables, instruments, endogenous, exogenous, TSLS, economics, finance, stata, eviews, endogeniety