Arbeitspapier
Why the Tobin tax can be stabilizing
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.
- Language
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Englisch
- Bibliographic citation
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Series: Working Paper ; No. 366
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Ertürk, Korkut
- Event
-
Veröffentlichung
- (who)
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Levy Economics Institute of Bard College
- (where)
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Annandale-on-Hudson, NY
- (when)
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2002
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ertürk, Korkut
- Levy Economics Institute of Bard College
Time of origin
- 2002
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