Are Tax Effects Important in the Long-Run Fisher Relation?: Evidence from the Municipal Bond Market

Recent studies of the Fisher relation have yielded contradictory conclusions on the importance of taxes in determining the long-run response of nominal interest rates to changes in expected inflation. This study uses data on taxable U.S. treasury and tax exempt municipal bond interest rates to shed light on the effects of inflation on nominal interest rates.

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Year of publication:	1997-02-17
Authors:	Crowder, William J. ; Wohar, Mark E.
Institutions:	EconWPA
Subject:	Fisher Effect \| Taxes \| Cointegration

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Extent:	application/pdf application/postscript
Series:	Finance.
Type of publication:	Book / Working Paper
Notes:	Type of Document - PostScript; prepared on IBM PC ; to print on HP Laserjet; pages: 13; figures: included 13 pages
Classification:	G - Financial Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005561646