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I wonder if there may be economic interpretation of 2SLS and GMM coefficients. For example, if the 2SLS coefficient is 0.567, it can be interpreted as 1% increase in the coefficient, the dependent variable will increase by (1 - exp(0.567)). Please let me know the interpretation of the 2SLS and GMM coefficients.

Thanks.

Tolo

The 2sls and GMM coefficients are generally the partial derivative of the dependent variable with respect to the independent variable, just as with least squares.

So, is it possible to interpret the 2SLS and GMM coefficients? Please advise.