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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
, 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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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
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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This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions taxes (FTT). It includes examples of FTT in the wider context, for example, on stocks and derivatives, currency transactions, and tangible property. Most of the discussion...
Persistent link: https://www.econbiz.de/10008987104
markets regulation. The aim of this panel was to ask some renowned experts of national, European and international securities … regulation to analyse their fields of research from the perspective of transnational law. The following paper serves as an … markets regulation" and show why the study of transnational financial markets law promises to be rewarding. It concludes with …
Persistent link: https://www.econbiz.de/10014193401
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We develop a new methodology to estimate the impact of a financial transaction tax (FTT) on informational efficiency, liquidity and volatility. In our sequential trading model there are price elastic noise traders and traders with private information of heterogeneous quality. We estimate the...
Persistent link: https://www.econbiz.de/10011966499