Instrumental variables test for strength and validity
p-values
TSLS 1
TSLS 2
Stock and Yogo
0.0065
0.0007
Hansen–Sargan
0.6769
0.4863
p-values
TSLS 1
TSLS 2
Stock and Yogo
0.0065
0.0007
Hansen–Sargan
0.6769
0.4863
Note(s): Stock and Yogo (2004) test for weak instruments evaluates the strength of the first stage regression. Low p-values suggest strong instruments. Hansen–Sargan is a test for overidentifying restrictions, testing the joint significance of the set of endogenous variables in the system of equations. It has a chi-square distribution. High p-values suggest that instruments are valid.