Taxes on tax‐exempt bonds
Implicit tax rates priced in the cross section of municipal bonds are approximately two to
three times as high as statutory income tax rates, with implicit tax rates close to 100% using …
three times as high as statutory income tax rates, with implicit tax rates close to 100% using …
State Income Tax Changes and the Demand for Municipal Bond Funds
JA Fulkerson, NL Haskell - The Quarterly Journal of Finance, 2021 - World Scientific
We consider how state income tax changes affect the demand for municipal bonds by in-
state investors. A tax increase (decrease) makes investing in municipal bonds more (less) …
state investors. A tax increase (decrease) makes investing in municipal bonds more (less) …
How Do Municipal Bonds Behave without Tax Exemption?
RT Yerkes, LW Bates, SH McCarty - The Journal of Investing, 2016 - joi.pm-research.com
This article analyzes an extensive sample of tax-exempt and taxable municipal bonds to
better understand how municipals behave without federal tax exemption. The authors find …
better understand how municipals behave without federal tax exemption. The authors find …
A surplus optimization approach to managing municipal debt
R Brooks - Public Finance Review, 2005 - journals.sagepub.com
This article considers appropriate debt-funding strategies for state and municipal
governments in the presence of a positive, tax-exempt term premium. In this context, the term …
governments in the presence of a positive, tax-exempt term premium. In this context, the term …
[CITATION][C] Maturity Clienteles in the Municipal Bond Market: Term Premiums and the Muni Puzzle
DT Brown, S Sirmans - Midwest Finance Association 2012 Annual Meetings …, 2011
[CITATION][C] Unprecedented Structural Changes in the Tax-Exempt Swap Market
J Brooks, K Zirlott