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

3

3

6

2SLS

8

8

16

6

6

12

8

8

16

6

6

12

3SLS

13

15

28

9

9

18

12

15

27

9

9

18

FIML

15

13

28

12

12

24

16

13

29

12

12

24

20

OLS

4

4

8

3

3

6

4

4

8

3

3

6

2SLS

8

8

16

6

6

12

8

8

16

6

6

12

3SLS

12

12

24

9

9

18

12

12

24

9

9

18

FIML

16

16

32

12

12

24

16

16

32

12

12

24

30

OLS

4

4

8

3

12

15

4

4

8

3

3

6

2SLS

8

8

16

6

3

9

8

8

16

6

6

12

3SLS

12

13

25

9

6

15

12

12

24

9

9

18

FIML

16

15

31

12

9

21

16

16

32

12

12

24

50

OLS

4

4

8

6

12

18

4

4

8

3

3

6

2SLS

8

8

16

9

3

12

8

8

16

6

6

12

3SLS

13

12

25

3

6

9

12

13

25

9

10

19

FIML

15

16

31

12

9

21

16

15

31

12

11

23

100

OLS

13

4

17

12

12

24

4

4

8

3

4

7

2SLS

11

8

19

9

3

12

8

8

16

8

5

13

3SLS

5

13

18

6

9

15

12

13

25

7

9

16

FIML

11

15

26

3

6

9

16

15

31

12

12

24

250

OLS

16

16

32

12

12

24

4

4

8

3

12

15

2SLS

4

8

12

9

4.5

13.5

8

8

16

6

3

9

3SLS

8

6.5

14.5

6

9

15

12

14

26

9

7

16

FIML

12

9.5

21.5

3

4.5

7.5

16

14

30

12

8

20

500

OLS

16

16

32

12

12

24

4

4

8

12

12

24

2SLS

4

6

10

9

3

12

8

8

16

9

3

12

3SLS

8

7.5

15.5

6

9

15

13

14.5

27.5

3

7

10

FIML

12

10.5

22.5

3

6

9

15

13.5

28.5

6

8

14