| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 966533 | Journal of Monetary Economics | 2013 | 4 Pages |
Abstract
- Build America Bonds (BABs) are tax-subsidized municipal bonds.
- BABs are underpriced, in part due to tax distortions
- Underwriting costs are less for BABs when their underpricing is high.
- Certain features of the underpricing are not explained by the theory in this paper.
- The opaque nature of the municipal market makes it difficult to improve liquidity.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Erik R. Sirri,