D'HOMBRES, Béatrice; ARCAND, Jean-Louis - Centre d'Études et de Recherches sur le Développement … - 2006
-hypothesis of complete markets, because of the failure to adequately control for unobservable household-specific effects. Since the … included variables that are orthogonal to the household-specific effects as instruments, provides a simple solution. Our … using the standard approach, but is not rejected once correlated unobservable household-specific effects are controlled for …