diff --git a/examples/placebo_test.pct.py b/examples/placebo_test.pct.py
new file mode 100644
index 0000000..7016483
--- /dev/null
+++ b/examples/placebo_test.pct.py
@@ -0,0 +1,101 @@
+# ---
+# jupyter:
+#   jupytext:
+#     cell_metadata_filter: -all
+#     custom_cell_magics: kql
+#     text_representation:
+#       extension: .py
+#       format_name: percent
+#       format_version: '1.3'
+#       jupytext_version: 1.16.4
+#   kernelspec:
+#     display_name: causal-validation
+#     language: python
+#     name: python3
+# ---
+
+# %% [markdown]
+# # Placebo Testing
+#
+# A placebo test is an approach to assess the validity of a causal model by checking if
+# the effect can truly be attributed to the treatment, or to other spurious factors. A
+# placebo test is conducted by iterating through the set of control units and at each
+# iteration, replacing the treated unit by one of the control units and measuring the
+# effect. If the model detects a significant effect, then it suggests potential bias or
+# omitted variables in the analysis, indicating that the causal inference is flawed.
+#
+# A successful placebo test will show no statistically significant results and we may
+# then conclude that the estimated effect can be attributed to the treatment and not
+# driven by confounding factors. Conversely, a failed placebo test, which shows
+# significant results, suggests that the identified treatment effect may not be
+# reliable. Placebo testing is thus a critical step to ensure the robustness of findings
+# in RCTs. In this notebook, we demonstrate how a placebo test can be conducted in
+# `causal-validation`.
+
+# %%
+from azcausal.core.error import JackKnife
+from azcausal.estimators.panel.did import DID
+from azcausal.estimators.panel.sdid import SDID
+
+from causal_validation import (
+    Config,
+    simulate,
+)
+from causal_validation.effects import StaticEffect
+from causal_validation.models import AZCausalWrapper
+from causal_validation.plotters import plot
+from causal_validation.transforms import (
+    Periodic,
+    Trend,
+)
+from causal_validation.validation.placebo import PlaceboTest
+
+# %% [markdown]
+# ## Data simulation
+#
+# To demonstrate a placebo test, we must first simulate some data. For the purposes of
+# illustration, we'll simulate a very simple dataset containing 10 control units where
+# each unit has 60 pre-intervention observations, and 30 post-intervention observations.
+
+# %%
+cfg = Config(
+    n_control_units=10,
+    n_pre_intervention_timepoints=60,
+    n_post_intervention_timepoints=30,
+    seed=123,
+)
+
+TRUE_EFFECT = 0.05
+effect = StaticEffect(effect=TRUE_EFFECT)
+data = effect(simulate(cfg))
+plot(data)
+
+# %% [markdown]
+# ## Model
+#
+# We'll now define our model. To do this, we'll use the synthetic
+# difference-in-differences implementation of AZCausal. This implementation, along with
+# any other model from AZCausal, can be neatly wrapped up in our `AZCausalWrapper` to
+# make fitting and effect estimation simpler.
+
+# %%
+model = AZCausalWrapper(model=SDID(), error_estimator=JackKnife())
+
+# %% [markdown]
+# ## Placebo Test Results
+#
+# Now that we have a dataset and model defined, we may conduct our placebo test. With 10
+# control units, the test will estimate 10 individual effects; 1 per control unit when
+# it is mocked as the treated group. With those 10 effects, the routine will then
+# produce the mean estimated effect, along with the standard deviation across the
+# estimated effect, the effect's standard error, and the p-value that corresponds to the
+# null-hypothesis test that the effect is 0.
+#
+# In the below, we see that expected estimated effect is small at just 0.08.
+# Accordingly, the p-value attains a value of 0.5, indicating that we have insufficient
+# evidence to reject the null hypothesis and we, therefore, have no evidence to suggest
+# that there is bias within this particular setup.
+
+# %%
+result = PlaceboTest(model, data).execute()
+result.summary()
diff --git a/pyproject.toml b/pyproject.toml
index f9968f3..0112fd3 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -31,6 +31,7 @@ dependencies = [
   "matplotlib",
   "numpy",
   "pandas",
+  "pandera"
 ]
 
 [tool.hatch.build]
diff --git a/src/causal_validation/__about__.py b/src/causal_validation/__about__.py
index dacd2b4..f83f980 100644
--- a/src/causal_validation/__about__.py
+++ b/src/causal_validation/__about__.py
@@ -1,3 +1,3 @@
-__version__ = "0.0.3"
+__version__ = "0.0.4"
 
 __all__ = ["__version__"]
diff --git a/src/causal_validation/config.py b/src/causal_validation/config.py
index 554206f..8040be1 100644
--- a/src/causal_validation/config.py
+++ b/src/causal_validation/config.py
@@ -3,7 +3,6 @@
     field,
 )
 import datetime as dt
-import typing as tp
 
 import numpy as np
 
diff --git a/src/causal_validation/models.py b/src/causal_validation/models.py
new file mode 100644
index 0000000..5b81fb4
--- /dev/null
+++ b/src/causal_validation/models.py
@@ -0,0 +1,21 @@
+from dataclasses import dataclass
+import typing as tp
+
+from azcausal.core.error import Error
+from azcausal.core.estimator import Estimator
+from azcausal.core.result import Result
+
+from causal_validation.data import Dataset
+
+
+@dataclass
+class AZCausalWrapper:
+    model: Estimator
+    error_estimator: tp.Optional[Error] = None
+
+    def __call__(self, data: Dataset, **kwargs) -> Result:
+        panel = data.to_azcausal()
+        result = self.model.fit(panel, **kwargs)
+        if self.error_estimator:
+            self.model.error(result, self.error_estimator)
+        return result
diff --git a/src/causal_validation/validation/__init__.py b/src/causal_validation/validation/__init__.py
new file mode 100644
index 0000000..e69de29
diff --git a/src/causal_validation/validation/placebo.py b/src/causal_validation/validation/placebo.py
new file mode 100644
index 0000000..f12e2eb
--- /dev/null
+++ b/src/causal_validation/validation/placebo.py
@@ -0,0 +1,65 @@
+from dataclasses import dataclass
+import typing as tp
+
+from azcausal.core.effect import Effect
+import numpy as np
+import pandas as pd
+from pandera import (
+    Check,
+    Column,
+    DataFrameSchema,
+)
+from scipy.stats import ttest_1samp
+from tqdm import trange
+
+from causal_validation.data import Dataset
+from causal_validation.models import AZCausalWrapper
+
+PlaceboSchema = DataFrameSchema(
+    {
+        "Effect": Column(float, coerce=True),
+        "Standard Deviation": Column(
+            float, checks=[Check.greater_than(0.0)], coerce=True
+        ),
+        "Standard Error": Column(float, checks=[Check.greater_than(0.0)], coerce=True),
+        "p-value": Column(float, coerce=True),
+    }
+)
+
+
+@dataclass
+class PlaceboTestResult:
+    effects: tp.List[Effect]
+
+    def summary(self) -> pd.DataFrame:
+        _effects = [effect.value for effect in self.effects]
+        _n_effects = len(_effects)
+        expected_effect = np.mean(_effects)
+        stddev_effect = np.std(_effects)
+        std_error = stddev_effect / np.sqrt(_n_effects)
+        p_value = ttest_1samp(_effects, 0, alternative="two-sided").pvalue
+        result = {
+            "Effect": expected_effect,
+            "Standard Deviation": stddev_effect,
+            "Standard Error": std_error,
+            "p-value": p_value,
+        }
+        result_df = pd.DataFrame([result])
+        PlaceboSchema.validate(result_df)
+        return result_df
+
+
+@dataclass
+class PlaceboTest:
+    model: AZCausalWrapper
+    dataset: Dataset
+
+    def execute(self) -> PlaceboTestResult:
+        n_control_units = self.dataset.n_units
+        results = []
+        for i in trange(n_control_units):
+            placebo_data = self.dataset.to_placebo_data(i)
+            result = self.model(placebo_data)
+            result = result.effect.percentage()
+            results.append(result)
+        return PlaceboTestResult(effects=results)
diff --git a/tests/test_causal_validation/test_models.py b/tests/test_causal_validation/test_models.py
new file mode 100644
index 0000000..feeb1ce
--- /dev/null
+++ b/tests/test_causal_validation/test_models.py
@@ -0,0 +1,63 @@
+import typing as tp
+
+from azcausal.core.effect import Effect
+from azcausal.core.error import (
+    Bootstrap,
+    Error,
+    JackKnife,
+)
+from azcausal.core.estimator import Estimator
+from azcausal.core.result import Result
+from azcausal.estimators.panel import (
+    did,
+    sdid,
+)
+from hypothesis import (
+    given,
+    settings,
+    strategies as st,
+)
+import numpy as np
+
+from causal_validation.models import AZCausalWrapper
+from causal_validation.testing import (
+    TestConstants,
+    simulate_data,
+)
+
+MODELS = [did.DID(), sdid.SDID()]
+MODEL_ERROR = [
+    (did.DID(), None),
+    (sdid.SDID(), None),
+    (sdid.SDID(), Bootstrap()),
+    (sdid.SDID(), JackKnife()),
+]
+
+
+@given(
+    model_error=st.sampled_from(MODEL_ERROR),
+    n_control=st.integers(min_value=2, max_value=5),
+    n_pre_treatment=st.integers(min_value=1, max_value=50),
+    n_post_treatment=st.integers(min_value=1, max_value=50),
+    seed=st.integers(min_value=1, max_value=100),
+)
+@settings(max_examples=10)
+def test_call(
+    model_error: tp.Union[Estimator, Error],
+    n_control: int,
+    n_pre_treatment: int,
+    n_post_treatment: int,
+    seed: int,
+):
+    constancts = TestConstants(
+        N_CONTROL=n_control,
+        N_PRE_TREATMENT=n_pre_treatment,
+        N_POST_TREATMENT=n_post_treatment,
+    )
+    data = simulate_data(global_mean=10.0, seed=seed, constants=constancts)
+    model = AZCausalWrapper(*model_error)
+    result = model(data)
+
+    assert isinstance(result, Result)
+    assert isinstance(result.effect, Effect)
+    assert not np.isnan(result.effect.value)
diff --git a/tests/test_causal_validation/test_plotters.py b/tests/test_causal_validation/test_plotters.py
index fcdd286..a034fde 100644
--- a/tests/test_causal_validation/test_plotters.py
+++ b/tests/test_causal_validation/test_plotters.py
@@ -30,12 +30,12 @@
 
 
 @given(
-    n_control=st.integers(min_value=1, max_value=50),
+    n_control=st.integers(min_value=1, max_value=10),
     n_pre_treatment=st.integers(min_value=1, max_value=50),
     n_post_treatment=st.integers(min_value=1, max_value=50),
     ax_bool=st.booleans(),
 )
-@settings(max_examples=5)
+@settings(max_examples=10)
 def test_plot(
     n_control: int, n_pre_treatment: int, n_post_treatment: int, ax_bool: bool
 ):
@@ -47,7 +47,9 @@ def test_plot(
     data = simulate_data(0.0, DEFAULT_SEED, constants=constants)
     if ax_bool:
         _, ax = plt.subplots()
-    ax = plot(data)
+    else:
+        ax = None
+    ax = plot(data, ax=ax)
     assert isinstance(ax, Axes)
     assert len(ax.lines) == n_control + 2
     assert ax.get_legend() is not None
diff --git a/tests/test_causal_validation/test_validation/test_placebo.py b/tests/test_causal_validation/test_validation/test_placebo.py
new file mode 100644
index 0000000..12557b0
--- /dev/null
+++ b/tests/test_causal_validation/test_validation/test_placebo.py
@@ -0,0 +1,64 @@
+import typing as tp
+
+from azcausal.estimators.panel.did import DID
+from azcausal.estimators.panel.sdid import SDID
+from hypothesis import (
+    given,
+    settings,
+    strategies as st,
+)
+import numpy as np
+import pandas as pd
+import pytest
+
+from causal_validation.models import AZCausalWrapper
+from causal_validation.testing import (
+    TestConstants,
+    simulate_data,
+)
+from causal_validation.transforms import Trend
+from causal_validation.validation.placebo import (
+    PlaceboSchema,
+    PlaceboTest,
+    PlaceboTestResult,
+)
+
+
+def test_schema_coerce():
+    df = PlaceboSchema.example()
+    cols = df.columns
+    for col in cols:
+        df[col] = np.ceil((df[col]))
+        PlaceboSchema.validate(df)
+
+
+@given(
+    global_mean=st.floats(min_value=0.0, max_value=10.0),
+    seed=st.integers(min_value=0, max_value=1000000),
+    n_control=st.integers(min_value=10, max_value=20),
+    model=st.sampled_from([DID(), SDID()]),
+)
+@settings(max_examples=10)
+def test_placebo_test(
+    global_mean: float, seed: int, n_control: int, model: tp.Union[DID, SDID]
+):
+    # Simulate data with a trend
+    constants = TestConstants(N_CONTROL=n_control, GLOBAL_SCALE=0.001)
+    data = simulate_data(global_mean=global_mean, seed=seed, constants=constants)
+    trend_term = Trend(degree=1, coefficient=0.1)
+    data = trend_term(data)
+
+    # Execute the placebo test
+    model = AZCausalWrapper(model)
+    result = PlaceboTest(model, data).execute()
+
+    # Check that the structure of result
+    assert isinstance(result, PlaceboTestResult)
+    assert len(result.effects) == n_control
+
+    # Check the results are close to the true effect
+    summary = result.summary()
+    PlaceboSchema.validate(summary)
+    assert isinstance(summary, pd.DataFrame)
+    assert summary.shape == (1, 4)
+    assert summary["Effect"].iloc[0] == pytest.approx(0.0, abs=0.1)