{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,8,17]],"date-time":"2026-08-17T20:45:54Z","timestamp":1786999554350,"version":"build-2736575974"},"reference-count":0,"publisher":"Cambridge University Press (CUP)","issue":"1","license":[{"start":{"date-parts":[[2002,3,6]],"date-time":"2002-03-06T00:00:00Z","timestamp":1015372800000},"content-version":"unspecified","delay-in-days":33,"URL":"https:\/\/www.cambridge.org\/core\/terms"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Econom. Theory"],"published-print":{"date-parts":[[2002,2]]},"abstract":"<jats:p>\n                    In this paper, I derive the efficiency bound of the structural \nparameter in a linear simultaneous equations model with many \ninstruments. The bound is derived by applying a convolution \ntheorem to Bekker's (1994,\n                    <jats:italic>Econometrica<\/jats:italic>\n                    62, \n657\u2013681) asymptotic approximation, where the number of \ninstruments grows to infinity at the same rate as the sample \nsize. Usual instrumental variables estimators with a small number \nof instruments are heuristically argued to be efficient estimators \nin the sense that their asymptotic distribution is minimal. \nBayesian estimators based on parameter orthogonalization are \nheuristically argued to be inefficient.\n                  <\/jats:p>","DOI":"10.1017\/s0266466602181084","type":"journal-article","created":{"date-parts":[[2002,11,14]],"date-time":"2002-11-14T17:01:41Z","timestamp":1037293301000},"page":"140-168","source":"Crossref","is-referenced-by-count":26,"title":["OPTIMAL INFERENCE WITH MANY INSTRUMENTS"],"prefix":"10.1017","volume":"18","author":[{"given":"Jinyong","family":"Hahn","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"56","published-online":{"date-parts":[[2002,3,6]]},"container-title":["Econometric Theory"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.cambridge.org\/core\/services\/aop-cambridge-core\/content\/view\/S0266466602181084","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2019,4,6]],"date-time":"2019-04-06T15:47:43Z","timestamp":1554565663000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.cambridge.org\/core\/product\/identifier\/S0266466602181084\/type\/journal_article"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2002,2]]},"references-count":0,"journal-issue":{"issue":"1","published-print":{"date-parts":[[2002,2]]}},"alternative-id":["S0266466602181084"],"URL":"https:\/\/doi.org\/10.1017\/s0266466602181084","relation":{},"ISSN":["0266-4666","1469-4360"],"issn-type":[{"value":"0266-4666","type":"print"},{"value":"1469-4360","type":"electronic"}],"subject":[],"published":{"date-parts":[[2002,2]]}}}