Lendvai, Julia; Raciborski, Rafal; Vogel, Lukas - In: Journal of Economic Dynamics and Control 37 (2013) 2, pp. 466-482
The paper studies the impact of an equity transaction tax (ETT) on financial and real variables in a DSGE model with two types of financial frictions: (1) financial intermediaries facing a leverage constraint; (2) noise shocks that lead to the emergence of non-fundamental equity trade. The ETT...