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

Francis A. Longstaff

NBER Working Paper No. 14687
Issued in January 2009

---- Acknowledgements -----

UCLA Anderson School and NBER. I am very grateful for helpful discussions with Hanno Lustig, Douglas Montague, Eric Neis, Mike Rierson, Derek Schaeffer, and Joel Silva. All errors are my responsibility. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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