n

Estimator

Normal Exogenous Variables

Uniform Exogenous Variables

Exact

Over

Exact

Over

Equation (1)

Equation (3)

Total

Equation (2)

Equation (4)

Total

Equation (1)

Equation (3)

Total

Equation (2)

Equation (4)

Total

10

OLS

4

4

8

3

9

12

4

4

8

3

8

11

2SLS

8

8

16

6

8

14

8

8

16

6

5

11

3SLS

13

15

28

9

7

16

12

15

27

9

10

19

FIML

15

13

28

12

6

18

16

13

29

12

7

19

20

OLS

4

4

8

3

9

12

4

4

8

3

7

10

2SLS

8

8

16

6

8

14

8

8

16

6

4

10

3SLS

12

12

24

9

5

14

12

12

24

9

7

16

FIML

16

16

32

12

8

20

16

16

32

12

12

24

30

OLS

4

4

8

3

9

12

4

4

8

3

8

11

2SLS

8

8

16

6

4

10

8

8

16

6

4

10

3SLS

12

13

25

9

7

16

12

12

24

9

7

16

FIML

16

15

31

12

10

22

16

16

32

12

11

23

50

OLS

4

4

8

3

9

12

4

4

8

3

9

12

2SLS

8

8

16

9

5

14

8

8

16

6

4

10

3SLS

13

12

25

6

6

12

12

13

25

9

9

18

FIML

15

16

31

12

10

22

16

15

31

12

8

20

100

OLS

4

4

8

3

9

12

4

4

8

3

9

12

2SLS

14

8

22

12

4

16

8

8

16

8

4

12

3SLS

8

13

21

9

8

17

12

13

25

7

9

16

FIML

14

15

29

6

9

15

16

15

31

12

8

20

250

OLS

4

4

8

3

9

12

4

4

8

3

9

12

2SLS

8

12

20

12

5

17

8

8

16

6

7

13

3SLS

12

10.5

22.5

9

8

17

12

14

26

9

8

17

FIML

16

13.5

29.5

6

8

14

16

14

30

12

6

18

500

OLS

4

4

8

3

9

12

4

4

8

3

9

12

2SLS

8

10

18

12

5

17

8

8

16

12

5

17

3SLS

12

12

24

9

10

19

13

13.5

26.5

6

6

12

FIML

16

14

30

6

6

12

15

14.5

29.5

9

10

19