Narrow Replication of Yogo (2004) Estimating the Elasticity of Intertemporal Substitution when Instruments are Weak
狭义复制了Yogo（2004）的研究，结果与原论文一致，并提供了弱工具变量问题不存在时的过度识别检验结果，发现Sargan检验的零假设在多个案例中被拒绝，质疑了工具变量有效性或模型设定。
SUMMARY This narrow replication exercise of Yogo ( Review of Economics and Statistics 2004; 86 (3): 797–810) finds results identical to the original paper, and provides results on overidentification tests for specifications that do not suffer from the weak instruments problem. The null hypothesis of the Sargan test is rejected in several cases, in particular for US and UK quarterly data. When other combinations of instruments are used the null of the Sargan test is rejected again in several cases. These rejections cast doubts on either instrument validity or model specification. Copyright © 2011 John Wiley & Sons, Ltd.