Portfolio Choice and Transactions Taxes

Arbeitspapier

In a simple portfolio choice model of two assets a foreign exchange transactions tax is implemented. We show that the graph in the mu-sigma[square] range is still a parabola and delineate its characteristics for altering tax rates. We presumed a risk avers investor seeking to minimize investment risks by international diversification of two uncorrelated assets. The main finding is that setting up a portfolio under the new tax condition leads to a higher transaction volume on international financial markets. In contrast, the transactions tax has got a stabilizing character when adjusting the portfolio to increased foreign investment risks.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CoFE Discussion Paper ; No. 03/09

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Fiscal and Monetary Policy in Development ; Taxation and Subsidies: Other ; Fiscal Policies and Behavior of Economic Agents: Other ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; Portfolio Choice; Investment Decisions ; International Financial Markets ; General Financial Markets: Government Policy and Regulation
• Thema: International Financial Markets ; Portfolio Choice ; Risk Diversification ; Tobin Tax ; Transactions Tax ; Portfolio-Management ; international ; Tobinsteuer ; Internationaler Finanzmarkt ; Börsenumsatzsteuer ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Haberer, Markus
• Ereignis: Veröffentlichung
• (wer): University of Konstanz, Center of Finance and Econometrics (CoFE)
• (wo): Konstanz
• (wann): 2003

Weitere Informationen

• Handle: http://hdl.handle.net/10419/23560
• URN: urn:nbn:de:bsz:352-opus-11167
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ