Taxable and tax-exempt interest rates. The link with inflation

Scott E. Hein; Jeffrey M. Mercer

doi:10.1016/0165-1765(91)90153-C

Taxable and tax-exempt interest rates. The link with inflation

Scott E. Hein, Jeffrey M. Mercer

Business Administration

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Abstract

A single-equation model utilizing taxable/tax-exempt yield spreads is developed to test restrictions required by the Darby-Feldstein inflation/tax hypothesis. Evidence indicates these restrictions generally can be rejected for post-Accord data and that there is important information in both yields linking them to inflation.

Original language	English
Pages (from-to)	327-332
Number of pages	6
Journal	Economics Letters
Volume	35
Issue number	3
DOIs	https://doi.org/10.1016/0165-1765(91)90153-C
State	Published - Mar 1991

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title = "Taxable and tax-exempt interest rates. The link with inflation",

abstract = "A single-equation model utilizing taxable/tax-exempt yield spreads is developed to test restrictions required by the Darby-Feldstein inflation/tax hypothesis. Evidence indicates these restrictions generally can be rejected for post-Accord data and that there is important information in both yields linking them to inflation.",

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Taxable and tax-exempt interest rates. The link with inflation

Abstract

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