goods. The model is estimated for three small open economies: Australia, Canada, and the United Kingdom. The empirical …, expenditure switching by foreign distributors is comparatively small for Australia and Canada, since a larger fraction of …

. The model allows for asymmetric risk premia, causality and co-volatility spillovers jointly in the global bond markets …. Empirical results show significant asymmetric partial co-volatility spillovers and risk premium exist in the bond markets. The … estimates of the bivariate risk premia show bi-directional causality exist between the Australia and France Bond markets …