Halstead, John M.; Hegde, Shantaram; Klein, Linda Schmid - In: The Financial Review 39 (2004) 2, pp. 293-315
We examine the spillover wealth effects of the Orange County, California bankruptcy announcement in December 1994 on municipal bonds, municipal bond funds, and bank stocks. This bankruptcy is prominent because of unprecedented losses and because it was caused by a highly leveraged derivatives...
