Short-term and long-term government debt and non-resident interest withholding taxes

Eijffinger, Sylvester, Huizinga, Harry and Lemmen, Jan (1997) Short-term and long-term government debt and non-resident interest withholding taxes. Financial Markets Group Discussion Papers (275). Financial Markets Group, The London School of Economics and Political Science, London, UK.

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Abstract

This paper examines the incidence of nonresident interest withholding taxes in the international 3-month Treasury-bill market and the international 5-year government bond market. The approach is one of pooled cross-section, time-series regressions. The evidence suggests that the yields on national Treasury-bills and on 5-year government bonds fully reflect the nonresident interest withholding taxes imposed on American or Japanese investors. Nonresident interest withholding taxes on short-term and long-term government debt thus do not appear to be borne by the international investor.

Item Type:	Monograph (Discussion Paper)
Official URL:	https://www.fmg.ac.uk/
Additional Information:	© 1997 The Authors
Divisions:	Financial Markets Group
Subjects:	H Social Sciences > HC Economic History and Conditions H Social Sciences > HG Finance
JEL classification:	G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H22 - Incidence H - Public Economics > H6 - National Budget, Deficit, and Debt > H63 - Debt; Debt Management
Date Deposited:	05 Jun 2023 13:06
Last Modified:	11 Dec 2024 19:48
URI:	http://eprints.lse.ac.uk/id/eprint/119164

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