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Discussion Paper
How do Rural and Urban Retail Banking Customers Differ?
This note documents differences and similarities between rural and urban retail banking clients using data from the Board's Survey of Consumer Finances (SCF). Understanding geographic differences in local demand conditions for banking is important for designing effective public policy.
Working Paper
ivcrc: An Instrumental Variables Estimator for the Correlated Random Coefficients Model
We discuss the ivcrc module, which implements an instrumental variables (IV) estimator for the linear correlated random coefficients (CRC) model. The CRC model is a natural generalization of the standard linear IV model that allows for endogenous, multivalued treatments and unobserved heterogeneity in treatment effects. The estimator implemented by ivcrc uses recent semiparametric identification results that allow for flexible functional forms and permit instruments that may be binary, discrete, or continuous. The ivcrc module also allows for the estimation of varying coefficients ...