1) What is a "natural experiment" and why are they of use to economists? 2

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1) What is a "natural experiment" and why are they of use to economists?

2.      Your friend ran a two-stage-least squares regression to perform an instrumental variables analysis. She spent some time looking at the output of her first stage regression: what might she be looking for? Why does she need to look at the first stage regression output before interpreting her second stage output?

3.      How do you interpret log-log, log-lin, and lin-log regressions? When are these appropriate?