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What can said when for some data set the result of a least squares regression is extremely close to the result of an instrumental variable regression?

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    $\begingroup$ (1) There is no significant bias caused by endogeneity in your sample or (2) your instruments are invalid and aren't doing anything to correct for the endogeneity bias. $\endgroup$ – Zachary Blumenfeld Dec 14 '15 at 6:12

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