Internet Appendix to 'Tax Distortions and Bond Issue Pricing'

18 Pages Posted: 28 Nov 2017

See all articles by Mattia Landoni

Mattia Landoni

Federal Reserve Bank of Boston

Date Written: November 21, 2017

Abstract

Original paper is available at: https://ssrn.com/abstract=2735812

This Internet Appendix contains supplemental material that was not included in Landoni (2018). Section 1 describes in detail the bond pricing model with taxes used to derive the paper's main results, with the aim of allowing an interested reader to reproduce it. Section 1 also highlights similarities and differences vis-à-vis Constantinides and Ingersoll (1984), and provides additional analytical results. Section 2 briefly discusses the consequences of ignoring state taxes.

Keywords: Municipal, Bonds, Security design, Tax arbitrage, Coupon rate, Issue price

JEL Classification: G12, G32, G35, G38, H2

Suggested Citation

Landoni, Mattia, Internet Appendix to 'Tax Distortions and Bond Issue Pricing' (November 21, 2017). SMU Cox School of Business Research Paper No. 18-7, Available at SSRN: https://ssrn.com/abstract=3075670 or http://dx.doi.org/10.2139/ssrn.3075670

Mattia Landoni (Contact Author)

Federal Reserve Bank of Boston ( email )

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Boston, MA 02210
United States

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