PT - JOURNAL ARTICLE AU - Srinivas Nippani AU - Stanley D. Smith TI - The Impact of the October 2013 Government Shutdown<br/>and Debt Ceiling on U.S. Treasury Default Risk AID - 10.3905/jfi.2014.24.2.079 DP - 2014 Sep 30 TA - The Journal of Fixed Income PG - 79--91 VI - 24 IP - 2 4099 - https://pm-research.com/content/24/2/79.short 4100 - https://pm-research.com/content/24/2/79.full AB - The study examines the impact of the partial U.S. government shutdown of October 2013 on the yields of Treasury bills. The authors find that there was a significant impact on the yields of four-week Treasury bills as compared with high-quality commercial paper. They do not find a similar impact on the yields of Treasury bills of three-month maturity. The analysis is based on the results of t-tests, regressions, and nonparametric tests, and the results are robust across the methodologies. The study has important implications for academics, market participants, and lawmakers.TOPICS: Legal/regulatory/public policy, fixed income and structured finance, statistical methods