How Long to Read Are there Spillover Effects From Munis?

How Long Does it Take to Read Are there Spillover Effects From Munis??

It takes the average reader and 19 minutes to read Are there Spillover Effects From Munis? by Mr.Rabah Arezki

Assuming a reading speed of 250 words per minute. Learn more

Description

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 yield data over the period 2005 to 2011. Results are twofold. First, we find that between most markets for individual U.S. state bonds there are negative spillovers. In other words, an increase in borrowing costs in one U.S. state results in better borrowing conditions for other states. Second, we find no substantial spillover effect between shocks originating from state securities and from federal markets, except for a few large issuers. Using causality tests in the frequency domain, we find that the Treasury bond market directly causes changes in the markets for municipal bonds in both the short and long run. There is also some evidence of causality from the municipal to the Treasury bond market, but only of a long-run nature. Our results shed some light on the policy debate on the nature of spillover effects within fiscal unions.

How long is Are there Spillover Effects From Munis??

Are there Spillover Effects From Munis? by Mr.Rabah Arezki is 19 pages long, and a total of 4,921 words.

This makes it 6% the length of the average book. It also has 6% more words than the average book.

How Long Does it Take to Read Are there Spillover Effects From Munis? Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 26 minutes to read Are there Spillover Effects From Munis? aloud.

What Reading Level is Are there Spillover Effects From Munis??

Are there Spillover Effects From Munis? is suitable for students ages 6 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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