| Article ID: | iaor201522730 |
| Volume: | 6 |
| Issue: | 3 |
| Start Page Number: | 213 |
| End Page Number: | 215 |
| Publication Date: | Sep 1983 |
| Journal: | Journal of Financial Research |
| Authors: | Hessel Christopher A, Huffman Lucy T |
| Keywords: | government, investment |
In this paper, the immunization process is extended to protect after‐tax income, and the duration indices for after‐tax immunization are derived. Selection of the appropriate index depends on individual investor differences in tax regulations. Attention is focused on the mutually exclusive decisions to amortize or not to amortize premia or discounts.