The effects of war risk on U.S. financial markets
By: Roberto Rigobon and Brian Sack.
Contributors: Sack, Brian.
Series: Finance and economics discussion series ;; 2003-18; Finance and economics discussion series (Online) ;; 2003-18.
Publisher: Federal Reserve Board
Published: 2003
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Iraq War, 2003- -- Economic aspects.; Capital market -- United States.
Description: "This paper measures the effects of the risks associated with the war in Iraq on various U.S.  financial variables using a heteroskedasticity-based estimation technique.  The results indicate that increases in what we call the "war risk" factor caused declines in Treasury yields and equity prices, a widening of lower-grade corporate spreads, a fall in the dollar, and a rise in oil prices.  This factor accounted for a considerable portion of the variances of these financial variables over the three months leading up to the arrival of coalition forces in central Baghdad"--Federal Reserve Board web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 7/27/2004.
Also available in print.
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Mode of access: World Wide Web.