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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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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
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A Global Financial Transaction Tax - Theory, Practice and Potential Revenues
Pekanov, Atanas - 2019
This study presents in detail the concept of a financial transaction tax (FTT) and the theoretical and empirical evidence in favour and against introducing it, the potential revenues, different implementation designs and its ability to correct various market failures. We analyse the benefits and...
Persistent link: https://www.econbiz.de/10012868051
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On the Theoretical Foundations for Regulating Financial Markets
Pistor, Katharina - 2012
regulation was designed to lend crutches to them when it appeared that they needed support. While modern finance theory has …How we think about financial markets determines how we regulate them. Since the 1970s modern finance theory has shaped … the overriding concern for regulation. This essay raises the question whether this is indeed the case. What if other …
Persistent link: https://www.econbiz.de/10013103586
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The effects of a financial transaction tax in an artificial financial market
Fricke, Daniel; Lux, Thomas - In: Journal of economic interaction and coordination : JEIC 10 (2015) 1, pp. 119-150
Persistent link: https://www.econbiz.de/10011378750