Do Municipal Bond Investors Pay a Convenience Premium to Avoid Taxes?
收藏NBER2023-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w31389
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资源简介：
We study the valuation of state-issued tax-exempt municipal bonds and find that there are significant convenience premia in their prices. These premia parallel those identified in Treasury markets. We find evidence that these premia are tax related. Specifically, the premia are related to measures
提供机构：
美国国家经济研究局
创建时间：
2023-06-01
