Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper considers two-sided tests for the parameter of an endogenous variable in an instrumental variable (IV) model with heteroskedastic and autocorrelated errors. We develop the finite-sample theory of weighted-average power (WAP) tests with normal errors and a known long-run variance. A typical weight choice yields tests with power near zero for parts of the parameter space.