contagion tests for recipient markets vulnerable to disturbances from this source market. The S&P 500 is decomposed into …

) countries and the United States of America (US). It unfolds their exposure to contagion effects during the major financial … these data to determine the multihorizon nature of comovement (pure contagion or interdependence) and the dynamics of market … pure contagion. Such transmission generated short-term shocks. Most of the earlier shocks, particularly the US subprime and …