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Author: Mahbub ul Haq
Publisher: New York : Oxford University Press
ISBN: 019511180X
Category : Capital flight tax
Languages : en
Pages : 337
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Book Description
This guide to coping with financial volatility should be of interest to academics and economists with interest in finance and international development.
Author: Mahbub ul Haq
Publisher: New York : Oxford University Press
ISBN: 019511180X
Category : Capital flight tax
Languages : en
Pages : 337
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Book Description
This guide to coping with financial volatility should be of interest to academics and economists with interest in finance and international development.
Author: Mahbub ul Haq
Publisher: Oxford University Press
ISBN: 0195344391
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
In his 1972 Janeway Lectures at Princeton, James Tobin, the 1981 Nobel Prize winner for economics, submitted a proposal for a levy on international currency transactions. The idea was not greeted with enthusiasm, as the 1970s were a period of optimism and confidence in floating exchange rages. Yet, whenever currency crises erupted during the past decades, the proposal for a levy on international currency transactions would once again arise. In the 1990s, two additional facts have sharpened interest in the Tobin tax proposal. First is the growing volume of foreign exchange trading. Second, interest is coming not only from policymakers and experts concerned with the smooth functioning of financial markets. It is shared by those concerned with public financing of development--the fiscal crisis of the state as well as the growing need for international cooperation on problems such as the environment, poverty, peace and security. This work makes a systematic analysis of the proposal for a foreign exchange transactions levy. Its chapters examine the economic desirability of such a levy, its technical and political feasibility, its revenue potential, the possible uses of that revenue, and related administrative and institutional aspects.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Mr.Parthasarathi Shome
Publisher: International Monetary Fund
ISBN: 1451849958
Category : Business & Economics
Languages : en
Pages : 21
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Book Description
Financial transactions taxes have recently gained attention as a possible means to influence the behavior of financial markets and to reduce destabilizing capital flows. One variation is a tax on all foreign currency conversions, often termed a “Tobin tax.” This paper suggests that these taxes would probably not produce the desired effects and would be difficult to design and implement. It is unclear that the possible advantages in reducing some short-term speculative trading would outweigh the possible disadvantages in impairing the efficiency of financial markets. From an administrative perspective, without a broad international consensus and application, these taxes are likely to be easily avoided.
Author: Alex C. Michalos
Publisher: Dundurn
ISBN: 0888669542
Category : Business & Economics
Languages : en
Pages : 98
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Book Description
In Good Taxes, Alex Michalos puts forth an argument in favour of a financial transactions tax.
Author: Jock Lowe
Publisher: Anchor Books
ISBN: 9781906996772
Category : Airports
Languages : en
Pages : 11
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Book Description
Author: Johannes Kaiser
Publisher:
ISBN:
Category :
Languages : en
Pages : 48
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Book Description
In the nineteen-seventies, James Tobin suggested the introduction of a transaction tax on the currency market to cope with exchange rate volatility. In spite of his proposal being discussed frequently and very controversial ever since by economists and policy makers, the so-called Tobin tax has never been imposed on any currency market. We investigate the consequences of the introduction of such a tax on an asset market model from a game-theoretic and an experimental point of view. Our main results include in respect to our model that contrary to the situation in game-theoretic equilibrium, the Tobin tax i) reduces trade volume, ii) reduces volatility, iii) increases market efficiency, and iv) decreases earnings inequality. These effects are likely to disappear if the tax rate is high.
Author: David Kunze
Publisher: GRIN Verlag
ISBN: 3668628793
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
Master's Thesis from the year 2017 in the subject Economics - Finance, grade: 1,7, University of Bamberg, course: Regulierung und Kontrolle von Finanzmärkten, language: English, abstract: After this brief introduction it becomes clear that the realization of a financial transaction tax would predominantly serve the goal of preventing future financial crises by reducing instability in financial markets (high volatility). In the following thesis, the author will first set up a model displaying a financial market with two heterogeneous agents to explain to what extent their trading behaviours have an impact on the stability of the relevant market. In a second step, the model will be extended to two relevant markets the agents can choose to trade in and the effects of an application of a transaction tax will be depicted. Due to the fact that the reaction of financial markets to a tax introduction depends on various factors the main goal of this work will be to test to what extent the market liquidity in combination with an imposed transaction tax has an impact on the price adjustment process across several periods. For this reason, the set-up model will be programmed in ‘mathematica’ where after the output will be interpreted. Furthermore, a possible influence of upcoming political events will be elucidated briefly before the results of the main question are stated and discussed. To represent a succinct perspective there will be a brief analysis about the odds of a tax introduction and a mentioning of possible further research.
Author: Heikki Patomaki
Publisher: Zed Books
ISBN: 9781856498715
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
Propounded by James Tobin in the 1970s, the Tobin tax would have levied a small amount from all currency transactions globally. This would have the effect of moderating speculation. It didn't take off but the author believes there is a way to make it work.
Author: Korkut Erturk
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper clarifies why a transaction tax of the type proposed by James Tobin can have a stabilizing influence in financial markets. It argues that such a tax is potentially stabilizing, not because it reduces the "excessive" volume of transactions, but because it can slow the speed with which market traders react to price changes. To the extent that a Tobin tax causes financial market traders to delay their decisions a few "grains of sand in the wheels of international finance" can indeed be stabilizing. Whether that is sufficient, or whether boulders - not just grains - are needed to prevent speculative attacks on currencies, is, however, a different matter.
