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Taxation and bond market investment strategies: Evidence from the market for Government of Canada bonds
Download2008-01-01
Landon, Stuart, Smith, Constance E.
This article shows that, contrary to the suggestion of some investment advisers, for an individual Canadian investor subject to personal income taxation, the after-tax yield on a discount bond is always higher than (or, at worst, equal to) the yield on a premium bond. This follows because the tax...
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2006-10-01
Landon, Stuart, Smith, Constance E.
This study, conducted by Stuart Landon and Constance E. Smith of the University of Alberta, aims to understand the critical factors influencing capital investment. The results show that, for the average country in the sample of 17 developed OECD economies (including Canada), a currency...
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The risk premium, exchange rate expectations, and the forward exchange rate: Estimates for the Yen-Dollar rate
Download2003-01-01
Landon, Stuart, Smith, Constance E.
The forward rate is often used as the market's prediction of the future spot exchange rate even though the hypothesis that the forward rate is an unbiased predictor of the future spot rate has been rejected in a large number of empirical studies using data for different countries and time...
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1997-09-01
Landon, Stuart, Smith, Constance E.
The absolute and relative impact of current quality and reputation variables on consumer decisions are examined using data from the market for Bordeaux wine. The estimates indicate that a model of consumer decision making which incorporates information on reputation (past quality) and collective...
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2015-09-11
Landon, Stuart, Smith, Constance E.
The growth of debt and deficits in developed countries has led many states to consider the adoption of fiscal rules. There is little evidence on the benefits of different types of rules. This study uses Monte Carlo techniques to examine the impact on welfare and government spending stabilization...