Question: Why is a randomized trial the gold standard for solving
Why is a randomized trial the “gold standard” for solving the identification problem?
Answer to relevant QuestionsWhat do we mean when we say that correlation does not imply causality? What are some of the ways in which an empirical analyst attempts to disentangle the two? Consider the example presented in the appendix to this chapter. Which coefficient estimates would be considered “statistically significant” or distinct from zero? From 1962 to 1965, federal spending for the conduct of education and training rose from $1.30 billion to $1.96 billion, while from 2004 to 2008, it rose from $85.80 billion to $90.96 billion. Given that the Consumer Price ...Several public interest watchdog groups point out “pork” in the federal budget—spending that they claim would have little or no national benefit but would benefit small number of people in a geographically concentrated ...In the Midwestern United States, where winds tend to blow from west to east, states tend to more easily approve new polluting industries near their eastern borders than in other parts of the state. Why do you think this is ...
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