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Would a Financial Transaction Tax Affect Financial Market Activity? Insights from Future Markets
Wang, George H. K. - 2013
In the wake of the recent financial crisis, several commentators have suggested a transaction tax on financial markets. The potential consequences of such a tax could be hazardous to the financial markets affected as well as to the economy. In this paper, we review the relevant theoretical and...
Persistent link: https://www.econbiz.de/10013085891
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Asset trade, Real investment and a tilting Financial transaction tax
Dieler, Tobias - 2020
We study the impact of a financial transaction tax (FTT) in a model that combines asset trade and real investment. An informed trader holds private information about the fundamental value of a firm and the firm's manager relies on the asset price to infer such information and invest accordingly....
Persistent link: https://www.econbiz.de/10012855688
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Costs and benefits of financial regulation : short-selling bans and transaction taxes
Lensberg, Terje; Schenk-Hoppé, Klaus Reiner; Ladley, Dan - In: Journal of banking & finance 51 (2015), pp. 103-118
Persistent link: https://www.econbiz.de/10011377278
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Politically Motivated Taxes in Financial Markets : The Case of the French Financial Transaction Tax
Meyer, Stephan - 2013
This paper studies the effects of the introduction of the French financial transaction tax in August 2012. With the tax, the French government aims to generate revenues for financing the burdens of the financial crisis and to curb short-term trading. We find that the financial transaction tax...
Persistent link: https://www.econbiz.de/10013087307
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Market Infrastructure Regulation and the Financial Transaction Tax
Heber, Caroline - 2014
, the European Union has already adopted a Regulation on short selling and certain aspects of credit default swaps and a … European Market Infrastructure Regulation aiming at over‐the‐counter derivatives markets. It currently debates reforming the … Markets in Financial Instruments Directive and adopting a Markets in Financial Instruments Regulation and a Regulation on …
Persistent link: https://www.econbiz.de/10013054478
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Financial Transaction Tax and Market Quality : Evidence from the French FTT Regulation in 2012
Parwada, Jerry T. - 2014
Policy makers occasionally impose Financial Transaction Tax (FTT) in hope to deter speculative trading, whereas the effectiveness of FTT in improving market quality remains controversial. Utilizing the recent FTT imposed by French government in 2012 on large-cap stocks traded in French stock...
Persistent link: https://www.econbiz.de/10013051688
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The intended and unintended consequences of financial-market regulations : a general equilibrium analysis
Buss, Adrian; Dumas, Bernard; Uppal, Raman; Vilkov, Grigory - 2016
In a production economy with trade in financial markets motivated by the desire to share labor-income risk and to speculate, we show that speculation increases volatility of asset returns and investment growth, increases the equity risk premium, and reduces welfare. Regulatory measures, such as...
Persistent link: https://www.econbiz.de/10011436064
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Sand in the Wheels or Wheels in the Sand? Tobin Taxes and Market Crashes
Lavicka, Hynek - 2014
The recent crisis revived interest in financial transaction taxes (FTTs) as a means to offset negative risk externalities. However, up-to-date academic research does not provide sufficient insights into the effects of transaction taxes on financial markets as the literature has here-to-fore been...
Persistent link: https://www.econbiz.de/10013056246
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Taxing Financial Transactions in Fundamentally Heterogeneous Markets
Gaffeo, Edoardo - 2016
The recent global financial crisis has revived a well-honored debate on the desirability and feasibility of taxing financial activities to curb speculation and promote price stability. In this paper we apply agent-based computational techniques to explore this issue in a multi-market environment...
Persistent link: https://www.econbiz.de/10012990745
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The effects of a financial transaction tax in an artificial financial market
Fricke, Daniel; Lux, Thomas - 2013
We investigate the effects of a Financial Transaction Tax (FTT) in an order-driven artificial financial market. FTTs are meant to limit short-term speculative behavior by reducing the amount of excess liquidity in the system. To quantify these effects, adjustments in trading strategies and their...
Persistent link: https://www.econbiz.de/10009783698