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| Author: | Eijffinger, S. C. W. Huizinga, H. P. Lemmen, J. J. G. |
| Title: | Short-term and long-term government debt and nonresident interest withholding taxes |
| Journal: | Journal of Public Economics
1998 : JUN, VOL. 68:3, p. 309-334 |
| Index terms: | TAXATION GOVERNMENT DEBT BOND MARKETS |
| Language: | eng |
| Abstract: | The 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 of the study 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. |
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