N

10

15

25

50

100

ρ

0.4

0.8

0.9

0.4

0.8

0.9

0.4

0.8

0.9

0.4

0.8

0.9

0.4

0.8

0.9

0.01

OLS

0.5509

0.5425

0.5421

0.5009

0.5300

0.5366

0.5600

0.5548

0.5326

0.5701

0.6015

0.6148

0.4599

0.4713

0.5012

2SLS

0.5914

0.3865

0.6881

0.5899

0.4228

0.3302

0.4210

0.4032

0.4125

0.5953

0.5815

0.4925

0.4259

0.4013

0.4259

GMM

−0.3255

−0.3995

−0.3181

−0.3302

−0.3452

−0.3502

−0.1125

−0.1225

−0.1325

−0.1802

−0.2033

−0.3863

−0.4325

−0.4222

−0.4312

0.02

OLS

0.6021

0.7025

0.7199

0.6105

0.5925

0.6054

0.6012

0.6201

0.6302

0.6352

0.6023

0.5856

0.4268

0.4329

0.4316

2SLS

0.5548

0.5602

0.5599

0.5662

0.4089

0.5006

0.4896

0.4712

0.4023

0.4412

0.4124

0.4123

0.4132

0.4099

0.4012

GMM

−0.132

−0.1502

−0.1635

−0.3425

−0.2329

−0.3254

−0.4526

−0.4625

0.4025

−0.3206

−0.4025

−0.3123

−0.432

−0.4513

−0.4368

0.05

OLS

0.3588

0.3682

0.3005

0.4502

0.4402

0.4369

0.3725

0.4012

0.4201

0.4399

0.4612

0.4512

0.4802

0.4995

0.4756

2SLS

0.3512

0.3316

0.3528

0.3856

0.3995

0.4025

0.3528

0.3836

0.4012

0.4113

0.4015

0.3956

0.3866

0.3715

0.3815

GMM

−0.1805

−0.1785

−0.1528

−0.3915

−0.3952

−0.3159

0.2523

0.1206

−0.2254

−0.2235

−0.2299

−0.3355

−0.3402

−0.3271

−031526