An Introductory Guide to Event Study Models

Douglas Miller

Journal of Economic Perspectives, 2023, vol. 37, issue 2, 203-30

Abstract: The event study model is a powerful econometric tool used for the purpose of estimating dynamic treatment effects. One of its most appealing features is that it provides a built-in graphical summary of results, which can reveal rich patterns of behavior. Another value of the picture is the estimated pre-event pseudo-"effects", which provide a type of placebo test. In this essay I aim to provide a framework for a shared understanding of these models. There are several (sometimes subtle) decisions and choices faced by users of these models, and I offer guidance for these decisions.

JEL-codes: C22 C32 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (42)

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DOI: 10.1257/jep.37.2.203

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