To date, an overwhelming majority of the literature has addressed mean relationships between producer and consumer price inflation. Granger et al. (1986) represent the only attempt to investigate second moment relationships. We examine the consumer--producer price relationship employing a...

Purpose: This study investigates the impact of federal income tax rates and budget deficits on the nominal interest rate yield on high-grade municipal tax-free bonds (municipals) in the US. The 58-year study period covers the years 1959 through 2016 and thus is very recent....