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The Behavior of the Interest Rate Differential between Tax-Exempt Revenue and General Obligation Bonds: A Test of Risk Preferences and Market Segmentation

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  • Kidwell, David S
  • Koch, Timothy W

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  • Kidwell, David S & Koch, Timothy W, 1982. "The Behavior of the Interest Rate Differential between Tax-Exempt Revenue and General Obligation Bonds: A Test of Risk Preferences and Market Segmentation," Journal of Finance, American Finance Association, vol. 37(1), pages 73-85, March.
    • Handle: RePEc:bla:jfinan:v:37:y:1982:i:1:p:73-85
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    Cited by:

    1. Abhay Aneja & Marian Moszoro & Pablo T. Spiller, 2015. "Political Bonds: Political Hazards and the Choice of Municipal Financial Instruments," NBER Working Papers 21188, National Bureau of Economic Research, Inc.
    2. Tania Babina & Chotibhak Jotikasthira & Christian Lundblad & Tarun Ramadorai, 2021. "Heterogeneous Taxes and Limited Risk Sharing: Evidence from Municipal Bonds [The distribution of realized stock return volatility]," Review of Financial Studies, Society for Financial Studies, vol. 34(1), pages 509-568.
    3. Daniels, Kenneth N. & Vijayakumar, Jayaraman, 2007. "Does underwriter reputation matter in the municipal bond market?," Journal of Economics and Business, Elsevier, vol. 59(6), pages 500-519.
    4. L Paul Hsueh & P. R. Chandy, 1989. "An Examination Of The Yield Spread Between Insured And Uninsured Debt," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 12(3), pages 235-244, September.
    5. Crowder, William J. & Wohar, Mark E., 1999. "The changing long-run linkage between yields on Treasury and municipal bonds and the 1986 Tax Act," Review of Financial Economics, Elsevier, vol. 8(2), pages 101-119.
    6. McBrayer Markie & Shea Patrick E. & Kirkland Justin H., 2018. "The Financial Crisis, Fiscal Federalism, and the Creditworthiness of US State Governments," Statistics, Politics and Policy, De Gruyter, vol. 9(1), pages 1-30, June.
    7. Samuel Jones & Michael Stroup, 2013. "Economic freedom and the mispricing of single-state municipal bond closed-end funds," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 37(2), pages 173-187, April.
    8. Kenneth Daniels & Demissew Diro Ejara, 2009. "Impact of Information Asymmetry on Municipal Bond Yields: An Empirical Analysis," American Journal of Economics and Business Administration, Science Publications, vol. 1(1), pages 11-20, March.
    9. Brune, Chris & Liu, Pu, 2011. "The contagion effect of default risk insurer downgrades: The impact on insured municipal bonds," Journal of Economics and Business, Elsevier, vol. 63(5), pages 492-502, September.

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