The Most Simple Explanation of the Endogeneity Bias and 2-Stage Least Squares Regression

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Dave Your Tutor
Published at : 13 Dec 2020
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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.

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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
2SLS2-stage least squares2 stage least squares

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