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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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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:
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: 16 Sep 2023 00:03

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