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

Criteria

$\alpha \Downarrow$

BIAS

0.01

GMM

2SLS

GMM

GMM

GMM

2SLS

GMM

GMM

GMM

GMM

GMM

GMM

GMM

2SLS

2SLS

0.02

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

2SLS

GMM

GMM

GMM

2SLS

2SLS

2SLS

0.05

GMM

GMM

GMM

2SLS

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

MSE

0.01

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

2SLS

GMM

2SLS

0.02

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

0.05

GMM

GMM

GMM

GMM

2SLS

2SLS

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM

GMM