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Put a number on omitted variable bias

The true model is y=2x1+3x2+εy = 2 x_1 + 3 x_2 + \varepsilon with ε\varepsilon exogenous. You omit x2x_2 and regress yy on x1x_1 alone. The auxiliary regression of the omitted x2x_2 on the kept x1x_1 has slope δ=0.5\delta = 0.5.

What does your estimated coefficient on x1x_1 converge to, and what is the size and sign of the bias?

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