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Securities Transaction Tax in France : impact on market quality and inter-market price coordination

Gomber, Peter; Haferkorn, Martin; Zimmermann, Kai - 2014

The general concept of a Securities Transaction Tax is controversial among academics and politicians. While theoretical research is quite advanced, the empirical guidance in a fragmented market context is still scarce. Possible negative effects for market liquidity and market efficiency are...

Persistent link: https://www.econbiz.de/10010231705

Agent-based financial markets and New Keynesian macroeconomics :a synthesis

Lengnick, Matthias; Wohltmann, Hans-Werner - 2010

We combine a simple agent-based model of financial markets with a standard New Keynesian macroeconomic model via two straightforward channels. The result is a macroeconomic model that allows for the endogenous development of stock price bubbles. Even with such a simplistic comprehensive model,...

Persistent link: https://www.econbiz.de/10008696723

The impact of financial transaction taxes on stock markets : short-run effects, long-run effects, and migration

Eichfelder, Sebastian; Lau, Mona; Noth, Felix - 2018 - Version: July 2018

We investigate the impact of the French 2012 financial transaction tax on trading volumes and volatility. We extend empirical research by analyzing announcement and short-run treatment effects, migration effects, and long-run volatility measures. We find a strong short-run impact on trading...

Persistent link: https://www.econbiz.de/10011901196

Boom-Bust Cycles and Trading Practices in Asset Markets, the Real Economy and the Effects of a Financial Transactions Tax

Schulmeister, Stephan - 2010

This paper begins with a puzzle. Over the past three decades, trading in asset markets has become progressively more short-term oriented ("faster"), with traders attempting to exploit intraday price trends. Yet, over this time, asset prices have continued to move in a sequence of alternating...

Persistent link: https://www.econbiz.de/10013136246

Transnational Financial Markets Regulation – A Conference

Klöhn, Lars - 2010

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

Regional Financial Regulation in Asia

Kawai, Masahiro - 2014

for regional-level institutions of financial regulation between national regulators in Asia and global-level institutions … sector surveillance and regulation to promote regional financial stability; and (iii) cooperating with global … Asia in regional financial cooperation and regulation and draws lessons for Asia. The EU represents the most advanced stage …

Persistent link: https://www.econbiz.de/10013058947

Regional financial regulation in Asia

Kawai, Masahiro; Morgan, Peter J. - 2014

mediating role for regional-level institutions of financial regulation between national regulators in Asia and global … financial sector surveillance and regulation to promote regional financial stability; and (iii) cooperating with global … Asia in regional financial cooperation and regulation and draws lessons for Asia. The EU represents the most advanced stage …

Persistent link: https://www.econbiz.de/10010240660

U.S. Experience with Futures Transactions Taxes : Effects in a Highly Intermediated Market

Mixon, Scott - 2016

The transactions tax on futures sharply reduced trading volume on wheat and corn contracts during the 1920s and 1930s but had no apparent effect on volatility or market quality. I find no evidence of a tax effect on open interest: I hypothesize this is because the relative magnitude of the tax...

Persistent link: https://www.econbiz.de/10013000250

On the Incidence of a Financial Transactions Tax in a Model with Fire Sales

Bierbrauer, Felix - 2012

This paper studies the impact of a financial transactions tax on a financial market where financial institutions trade with each other. Assets are marked to the market and financial institutions with negative equity are forced out of business. There are two main results: First, if all banks have...

Persistent link: https://www.econbiz.de/10013104166

Taxing Financial Transactions

Lensberg, Terje - 2013

Should financial transactions be taxed? The European Commission seems to think so. Cheered on by many economists, it presents the tax as a means to raise revenue, curb speculation and increase financial stability. This column argues that a financial transaction tax will meet none of these goals....

Persistent link: https://www.econbiz.de/10013086467