Both first-stage coefficients are highly significant, with F tests of instrument exclusion of 28.9 and 26.0 (which are both well above the critical values for weak identification derived by Stock and Yogo 2005 ).
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Both first-stage coefficients are highly significant, with F tests of instrument exclusion of 28.9 and 26.0 (which are both well above the critical values for weak identification derived by Stock and Yogo 2005 ).