Instrumental Variables Methods Reveal Larger Effects of Menopausal Hormone Therapy in the Landmark Women’s Health Initiative Clinical Trial

We thank Saumya Chatrath, Zoey Chopra, Tory Do, Bailey Flanigan, Anastasiya Karpova, Pauline Mourot, Srajal Nayak, Dominik Piehlmaier, Sukanya Sravasti, and Matthew Tauzer for research assistance. Marcia Stefanick is the Stanford Principal Investigator of the WHI. This study was deemed exempt by the NBER IRB and approved by the University of Michigan IRB. It has been approved by the WHI P&P Committee. The WHI program is funded by the National Heart, Lung and Blood Institute, NIH through 75N92021D00001, 75N92021D00002, 75N92021D00003, 75N92021D00004, 75N92021D00005. The authors thank the WHI investigators and staff for their dedication, and the study participants for making this research possible. A list of WHI investigators can be found at https://www.whi.org/doc/WHI-Investigator-Short-List.pdf. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.