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Municipal Debt and Marginal Tax Rates: Is There a Tax Premium in Asset Prices?

Citations

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Cited by:

  1. Deborah Lucas & Jorge Jimenez Montesinos, 2020. "A Fair Value Approach to Valuing Public Infrastructure Projects and the Risk Transfer in Public-Private Partnerships," NBER Chapters, in: Economic Analysis and Infrastructure Investment, pages 369-402, National Bureau of Economic Research, Inc.
  2. Arakelyan, Armen & Serrano, Pedro, 2016. "Liquidity in Credit Default Swap Markets," Journal of Multinational Financial Management, Elsevier, vol. 37, pages 139-157.
  3. Kimberly Cornaggia & John Hund & Giang Nguyen, 2024. "The Price of Safety: The Evolution of Municipal Bond Insurance Value," Management Science, INFORMS, vol. 70(4), pages 2330-2354, April.
  4. 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).
  5. Robert Novy-Marx & Joshua D. Rauh, 2012. "Fiscal Imbalances and Borrowing Costs: Evidence from State Investment Losses," American Economic Journal: Economic Policy, American Economic Association, vol. 4(2), pages 182-213, May.
  6. Konul Amrahova Riegel, 2021. "Solving the Muni Puzzle: Who Benefits from Tax Exemption of Government Debt?," Public Finance Review, , vol. 49(1), pages 71-105, January.
  7. Gao, Pengjie & Lee, Chang & Murphy, Dermot, 2019. "Municipal borrowing costs and state policies for distressed municipalities," Journal of Financial Economics, Elsevier, vol. 132(2), pages 404-426.
  8. Bree J. Lang & Pratish Patel, 2023. "Funding infrastructure under uncertainty: evidence from tax credit prices," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(3), pages 635-677, June.
  9. Albert Lee Chun & Ethan Namvar & Xiaoxia Ye & Fan Yu, 2019. "Modeling Municipal Yields With (and Without) Bond Insurance," Management Science, INFORMS, vol. 65(8), pages 3694-3713, August.
  10. Qu, Xi & Xu, Zhiwei & Yu, Jinxiang, 2025. "The pricing of local government bonds in China: A bank-government relationship perspective," China Economic Review, Elsevier, vol. 93(C).
  11. Gao, Pengjie & Lee, Chang & Murphy, Dermot, 2020. "Financing dies in darkness? The impact of newspaper closures on public finance," Journal of Financial Economics, Elsevier, vol. 135(2), pages 445-467.
  12. Thomas Luke Spreen & Ed Gerrish, 2022. "Taxes and tax‐exempt bonds: A literature review," Journal of Economic Surveys, Wiley Blackwell, vol. 36(4), pages 767-808, September.
  13. Nakhmurina, Anya, 2018. "Does Fiscal Monitoring Make Better Governments? Evidence from US Municipalities," Working Papers 284, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
  14. Tran, Nhu & Uzmanoglu, Cihan, 2023. "Reprint of: COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 147(C).
  15. Hattori, Takahiro, 2018. "Decomposing Japanese municipal bond spreads: Default and liquidity premiums in times of crisis," Journal of Asian Economics, Elsevier, vol. 59(C), pages 16-28.
  16. Brent W. Ambrose & Matthew Gustafson & Maxence Valentin & Zihan Ye, 2026. "Voter-Induced Municipal Credit Risk," Management Science, INFORMS, vol. 72(2), pages 1214-1235, February.
  17. Viral V Acharya & Cecilia Parlatore & Suresh Sundaresan, 2025. "Financing Infrastructure in the Shadow of Expropriation," The Review of Financial Studies, Society for Financial Studies, vol. 38(5), pages 1368-1418.
  18. Chirinko, Robert, 2023. "What went wrong? The Puerto Rican debt crisis, the “Treasury Put,” and the failure of market discipline," Journal of Corporate Finance, Elsevier, vol. 80(C).
  19. Martin J. Luby & Peter Orr & Richard Ryffel, 2021. "Direct Versus Indirect Federal Bond Subsidies: New Evidence on Cost of Capital," Public Budgeting & Finance, Wiley Blackwell, vol. 41(1), pages 76-120, March.
  20. Tran, Nhu & Uzmanoglu, Cihan, 2022. "COVID-19, lockdowns, and the municipal bond market," Journal of Banking & Finance, Elsevier, vol. 143(C).
  21. Lu, Runjing & Ye, Zihan, 2023. "Roe v. Rates: Reproductive Healthcare and Public Financing Costs," SocArXiv 7t5jz, Center for Open Science.
  22. Xikai Chen & Meiting Lu & Yaowen Shan, 2021. "Changes in marginal tax rates over the past three decades in the United States," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(S1), pages 2601-2624, April.
  23. Wei, Bin & Yue, Vivian Z., 2020. "Liquidity backstops and dynamic debt runs," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
  24. Dario Cestau & Burton Hollifield & Dan Li & Norman Schürhoff, 2019. "Municipal Bond Markets," Annual Review of Financial Economics, Annual Reviews, vol. 11(1), pages 65-84, December.
  25. Darko B. Vukovic & Carlos J. Rincon & Moinak Maiti, 2021. "Price distortions and municipal bonds premiums: evidence from Switzerland," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-21, December.
  26. Li, Pei & Tang, Leo & Cloyd, C. Bryan, 2024. "Political polarization and state government bonds," Global Finance Journal, Elsevier, vol. 63(C).
  27. repec:osf:socarx:7t5jz_v1 is not listed on IDEAS
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