Did the repeated debt ceiling controversies embed default risk in US Treasury securities?

We examine whether the financial market charged a default risk premium to US Treasury securities when the US Federal government repeatedly reached the legally binding debt limits between 2002 and 2006. We show that for the first two of the four recurrences since the first episode in 1996, the financ...

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Bibliographic details
Volume: 33
Main Author: Liu, Pu
Shao, Yingying
Yeager, Timothy J
Format: Journal Article
Language: English
Zielgruppe: Trade
Place of publication: AMSTERDAM Elsevier B.V 2009
ELSEVIER SCIENCE BV
Elsevier
published in: Journal of banking & finance Vol. 33; no. 8; pp. 1464 - 1471
Data of publication: 2009
ISSN: 0378-4266
1872-6372
EISSN: 1872-6372
Discipline: Business
Economics
Series: Journal of Banking & Finance
Subjects:
E62
H61
H63
H62
G14
Online Access: available in Bonn?
Database: Web of Knowledge
Social Sciences Citation Index
Web of Science
Web of Science - Social Sciences Citation Index - 2009
RePEc IDEAS
RePEc
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Academic OneFile (A&I only)
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