%0 Journal Article %A Srinivas Nippani %A Stanley D. Smith %T The Impact of the October 2013 Government Shutdown
and Debt Ceiling on U.S. Treasury Default Risk %D 2014 %R 10.3905/jfi.2014.24.2.079 %J The Journal of Fixed Income %P 79-91 %V 24 %N 2 %X 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 %U https://jfi.pm-research.com/content/iijfixinc/24/2/79.full.pdf