Candelon, Bertrand; Arezki, Rabah; Sy, Amadou N. R. - International Monetary Fund (IMF) - 2011
better borrowing conditions for other states. Second, we find no substantial spillover effect between shocks originating from …This paper studies the spillover effects both within the bond markets for individual U.S. states and between the latter … and the market for U.S. Treasury securities. We perform the Forbes and Rigobon (2002) spillover test using daily bond …