TY - JOUR T1 - The Impact of the October 2013 Government Shutdown<br/>and Debt Ceiling on U.S. Treasury Default Risk JF - The Journal of Fixed Income SP - 79 LP - 91 DO - 10.3905/jfi.2014.24.2.079 VL - 24 IS - 2 AU - Srinivas Nippani AU - Stanley D. Smith Y1 - 2014/09/30 UR - https://pm-research.com/content/24/2/79.abstract N2 - 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 ER -