This study gives first evidence on the consequences of the introduction of a transaction tax in Italian financial markets in 2013. We discuss the consequences of this tax on trading volume, volatility, and trading costs of FTSE MIB stocks. The structure of the tax introduction gives us the...

The paper discusses the mathematical background and several alternative strategies of converting equations as typically found in dynamic stochastic general equilibrium models into log-deviations from the steady state form. Guidance is provided on when to use which computational strategy. More...

The paper discusses the mathematical background and several alternative strategies of converting equations as typically found in dynamic stochastic general equilibrium models into log-deviations from the steady state form. Guidance is provided on when to use which computational strategy. More...