A teaching-oriented editorial that recasts Wright's 1928 simultaneous equations appendix as an early contribution to instrumental variables and causal DAGs, with a modern GMM exposition.
Here, we consider a simplified setting where all producers are foreign and consumers ar e domestic
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Philip G. Wright, directed acyclic graphs, and instrumental variables
A teaching-oriented editorial that recasts Wright's 1928 simultaneous equations appendix as an early contribution to instrumental variables and causal DAGs, with a modern GMM exposition.