I am trying to do an "event study" on foreign exchange data from the euro usd pair. I have a number of announcements, which are the events, and only 1 asset, the forex pair. I am currently trying to setup the code so that it calculates for this pair the abnormal returns by taking the average of 3 days after the event and substracting the average of the returns 3 days prior to the event. The event is the announcement day. After this I will run a regression on these abnormal returns but that is not the problem at this moment.
I have forex data, with the date and the returns, and i have a list of event dates, here are the first rows:
Fxdate | Return |
03/01/2005 | -0,007 |
04/01/2005 | -0,0142 |
05/01/2005 | -0,0008 |
06/01/2005 | -0,0069 |
QEannDate |
14/01/2005 |
22/08/2007 |
08/11/2007 |
23/11/2007 |
I have tried the package eventstudy, but this is not usable because it only allows to look at 1 event, and eventstudy2 does not seem to work for my case as well.
Could someone help with pointing at either a package that can do this or a guide that walks through the needed code for this? I am also not sure if I should try to code myself or use a package for this.
Any help is of course greatly appreciated and thank you for your time!
-Y
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