Comparing a RE (xtreg, re) with and IV (xtivreg, re) model, I receive quite large coefficients in the IV case. For football I have found five Instruments.
MATH | Coeff. RE | Coeff IV |
football | -0.83 | -30.05 |
age | 4.28 | 4.79 |
fear | -0.62 | -0.57 |
parentalincome | 0.004 | 0.004 |
Endogeneity: F-Test for excluded instruments F(5, 5602) = 14.8
Weak instruments: Stock-Wogo weak ID test critical values for K1=1 and L1=5: 10% max relative bias = 10.8; 5% max relative bias = 18.3
Overidentification: Sargan-Hansen statistic: p-value = 0.34
Does anyone has an idea, why the IV model seems to be strange and probabyl wrong?
Thank you very much
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