N

Estimator

Normal Exogenous Variables

Uniform Exogenous Variables

Exact

Over

Exact

Over

Equation (1)

Equation (3)

Tot

Equation (2)

Equation (4)

Tot

Equation (1)

Equation (3)

Tot

Equation (2)

Equation (4)

Tot

10

OLS

4

4

8

3

3

6

4

4

8

4

3

7

2SLS

8

8

16

6

6

12

8

8

16

5

6

11

3SLS

12

13

25

9

9

18

12

14

26

9

9

18

FIML

16

15

31

12

12

24

16

14

30

12

12

24

20

OLS

4

4

8

10

12

22

4

4

8

5

6

11

2SLS

8

8

16

3

3

6

8

8

16

4

4

8

3SLS

12

12

24

6

6

12

12

12

24

9

8

17

FIML

16

16

32

11

9

20

16

16

32

12

12

24

30

OLS

4

4

8

12

12

24

4

4

8

9

5

14

2SLS

8

8

16

3

3

6

8

8

16

3

4

7

3SLS

12

13

25

9

6

15

12

12

24

6

9

15

FIML

16

15

31

6

9

15

16

16

32

12

12

24

50

OLS

5

4

9

12

12

24

4

4

8

6

9

15

2SLS

7

8

15

6

3

9

8

8

16

3

4

7

3SLS

12

12

24

3

6

9

12

13

25

9

7

16

FIML

16

16

32

9

9

18

16

15

31

12

10

22

100

OLS

16

10

26

12

12

24

4

4

8

10

11

21

2SLS

4

4

8

9

3

12

8

8

16

5

3

8

3SLS

8

12

20

6

9

15

12

13

25

4

7

11

FIML

12

14

26

3

6

9

16

15

31

11

9

20

250

OLS

16

16

32

12

12

24

4

4

8

12

12

24

2SLS

4

6

10

9

5

14

8

8

16

3

3

6

3SLS

8

8

16

6

9

15

12

13

25

6

8

14

FIML

12

10

22

3

4

7

16

15

31

9

7

16

500

OLS

16

16

32

12

12

24

10

5

15

12

12

24

2SLS

4

6

10

9

5.5

14.5

6

7

13

9

3

12

3SLS

8

8.5

16.5

6

8

14

10

14

24

5

8

13

FIML

12

9.5

21.5

3

4.5

7.5

14

14

28

4

7

11