IDEAS home Printed from https://ideas.repec.org/a/fip/fedrer/y1982imayp14-39nv.68no.3.html
   My bibliography  Save this article

Determinants of individual tax-exempt bond yields : a survey of the evidence

Author

Listed:
  • Timothy Q. Cook

Abstract

An abstract for this article is not available.

Suggested Citation

  • Timothy Q. Cook, 1982. "Determinants of individual tax-exempt bond yields : a survey of the evidence," Economic Review, Federal Reserve Bank of Richmond, vol. 68(May), pages 14-39.
    • Handle: RePEc:fip:fedrer:y:1982:i:may:p:14-39:n:v.68no.3
    as

    Download full text from publisher

    File URL: https://fraser.stlouisfed.org/files/docs/publications/frbrichreview/rev_frbrich198205.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Yawitz, Jess B & Marshall, William J, 1981. "Measuring the Effect of Callability on Bond Yields," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(1), pages 60-71, February.
    2. Roland Robinson, 1960. "Postwar Market for State and Local Government Securities," NBER Books, National Bureau of Economic Research, Inc, number robi60-1, March.
    3. Kidwell, David S, 1976. "The Inclusion and Exercise of Call Provisions by State and Local Governments," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(3), pages 391-398, August.
    4. Ronald A. Ratti, 1979. "Pledging requirements and bank asset portfolios," Economic Review, Federal Reserve Bank of Kansas City, vol. 64(Sep), pages 13-23.
    5. Joehnk, Michael D & Kidwell, David S, 1979. "Comparative Costs of Competitive and Negotiated Underwritings in the State and Local Bond Market," Journal of Finance, American Finance Association, vol. 34(3), pages 725-731, June.
    6. Hopewell, Michael H. & Kaufman, George G., 1978. "The incidence of excess interest costs paid by municipalities in the competitive sale of bonds," Journal of Monetary Economics, Elsevier, vol. 4(2), pages 281-296, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Earl D. Benson & Barry R. Marks & K. K. Raman, 1988. "Tax Effort as an Indicator of Fiscal Stress," Public Finance Review, , vol. 16(2), pages 203-218, April.
    2. 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.
    3. Michael F. Spivey, 1989. "The Cost Of Including A Call Provision In Municipal Debt Contracts," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 12(3), pages 203-216, September.
    4. Tima T. Moldogaziev & Sharon N. Kioko & W. Bartley Hildreth, 2017. "Impact of Bankruptcy Eligibility Requirements and Statutory Liens on Borrowing Costs," Public Budgeting & Finance, Wiley Blackwell, vol. 37(4), pages 47-73, December.
    5. Bourdeau-Brien, Michael & Kryzanowski, Lawrence, 2019. "Municipal financing costs following disasters," Global Finance Journal, Elsevier, vol. 40(C), pages 48-64.
    6. Khaled Amira, 2004. "Determinants of Sovereign Eurobonds Yield Spread," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(5‐6), pages 795-821, June.
    7. Christine R. Martell & Robert S. Kravchuk, 2010. "Bond Insurance and Liquidity Provision: Impacts in the Municipal Variable Rate Debt Market, 2008-09," Public Finance Review, , vol. 38(3), pages 378-401, May.
    8. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kish, Richard J. & Hogan, Karen M. & Olson, Gerard, 1999. "Does the market perceive a difference in rating agencies?," The Quarterly Review of Economics and Finance, Elsevier, vol. 39(3), pages 363-377.
    2. Larcker, David F. & Watts, Edward M., 2020. "Where's the greenium?," Journal of Accounting and Economics, Elsevier, vol. 69(2).
    3. Li, Zhaoyuan & Yao, Jianfeng, 2019. "Testing for heteroscedasticity in high-dimensional regressions," Econometrics and Statistics, Elsevier, vol. 9(C), pages 122-139.
    4. John Lintner, 1972. "Finance and Capital Markets," NBER Chapters, in: Economic Research. Retrospect and Prospect: Finance and Capital Markets, Fiftieth Anniversary Colloquium II, pages 1-53, National Bureau of Economic Research, Inc.
    5. Rivers, Mary Jean & Yates, Barbara M., 1997. "City size and geographic segmentation in the municipal bond market," The Quarterly Review of Economics and Finance, Elsevier, vol. 37(3), pages 633-645.
    6. Jack H. Beebe, 1979. "The effect of Proposition 13 on California municipal debt," Economic Review, Federal Reserve Bank of San Francisco, issue Win, pages 25-38.
    7. Kriz, Kenneth A., 2003. "Comparative costs of negotiated versus competitive bond sales: new evidence from state general obligation bonds," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(2), pages 191-211.
    8. William E. Mitchell, 1979. "Debt Refunding: The State and Local Government Sector," Public Finance Review, , vol. 7(3), pages 323-337, July.
    9. Butler, Alexander W. & Yi, Hanyi, 2022. "Aging and public financing costs: Evidence from U.S. municipal bond markets," Journal of Public Economics, Elsevier, vol. 211(C).
    10. Hesser, Leon F., 1961. "Theoretical Considerations Concerning the Supply of and Demand for Long Term Credit in Agriculture," Production Economics Papers 246275, Purdue University, Department of Agricultural Economics.
    11. Jun Peng & Peter Brucato, 2004. "An empirical analysis of market and institutional mechanisms for alleviating information asymmetry in the municipal bond market," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 28(2), pages 226-238, June.
    12. repec:ags:inpuer:244676 is not listed on IDEAS
    13. Jess B. Yawitz & Kevin J. Maloney & Louis H. Ederington, 1983. "Taxes, Default Risk, and Yield Spreads," NBER Working Papers 1215, National Bureau of Economic Research, Inc.
    14. W. Brian Barrett & Andrea J. Heuson & Robert W. Kolb, 1986. "The Differential Effects Of Sinking Funds On Bond Risk Premia," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 9(4), pages 303-312, December.
    15. Michael F. Spivey, 1989. "The Cost Of Including A Call Provision In Municipal Debt Contracts," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 12(3), pages 203-216, September.
    16. John Lintner, 1972. "Finance and Capital Markets," NBER Chapters, in: Economic Research: Retrospect and Prospect, Volume 2, Finance and Capital Markets, pages 1-53, National Bureau of Economic Research, Inc.
    17. Levent Güntay & N. R. Prabhala & Haluk Unal, "undated". "Callable Bonds and Hedging," Center for Financial Institutions Working Papers 02-13, Wharton School Center for Financial Institutions, University of Pennsylvania.
    18. Tudor, Kerry William, 1985. "The impact of management ability and market structure on the performance of agricultural banks in Iowa," ISU General Staff Papers 198501010800009749, Iowa State University, Department of Economics.
    19. Palumbo, George & Sacks, Seymour, 1987. "Rural Governments In The Municipal Bond Market," Staff Reports 277945, United States Department of Agriculture, Economic Research Service.

    More about this item

    Keywords

    bond markets; Bonds;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedrer:y:1982:i:may:p:14-39:n:v.68no.3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christian Pascasio (email available below). General contact details of provider: https://edirc.repec.org/data/frbrius.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.