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In economics literature, the IV approach uses what is commonly referred to as the “first stage” and the “reduced form”.

Should I italicize them instead? I'm not sure what to use because I have not written many economics research papers.

marked as duplicate by David M, FumbleFingers, RyeɃreḁd, MrHen, aedia λ Mar 13 '14 at 21:52

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Either is perfectly acceptable.

The goal is to make clear that you are introducing terms. Either formatting choice makes it clear to the reader.

See What is the best way to mention a word: italics, quotes, or single-quotes (apostrophes)?.

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