Effects of tobin taxes in minority game markets
Abstract: We show that the introduction of Tobin taxes in agent-based models of currency markets can lead to a reduction of both speculative trading and the magnitude of exchange rate fluctuations at intermediate tax rates. In this regime revenues obtained from speculators are maximal for the institutions acting as market makers. We here focus on minority game models of markets, which are accessible by exact techniques from statistical mechanics. Results are supported by computer simulations. Our findings suggest that at finite systems sizes the effect is most pronounced in a critical region around the phase transition of the infinite system, but much weaker if the market is operating far from criticality and does not exhibit anomalous fluctuations
- Standort
-
Deutsche Nationalbibliothek Frankfurt am Main
- Umfang
-
Online-Ressource
- Sprache
-
Englisch
- Anmerkungen
-
Postprint
begutachtet (peer reviewed)
In: Journal of Economic Behavior & Organization ; 70 (2009) 1-2 ; 231-240
- Ereignis
-
Veröffentlichung
- (wo)
-
Mannheim
- (wann)
-
2009
- Urheber
-
Bianconi, Ginestra
Galla, Tobias
Marsili, Matteo
Pin, Paolo
- DOI
-
10.1016/j.jebo.2008.10.009
- URN
-
urn:nbn:de:0168-ssoar-292137
- Rechteinformation
-
Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Letzte Aktualisierung
-
25.03.2025, 13:54 MEZ
Datenpartner
Deutsche Nationalbibliothek. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Beteiligte
- Bianconi, Ginestra
- Galla, Tobias
- Marsili, Matteo
- Pin, Paolo
Entstanden
- 2009
Ähnliche Objekte (12)
Effects of tobin taxes in minority game markets
Multi-asset minority games
Multi-asset minority games
Cigarette Taxes and Smoking among Sexual Minority Adults
Markets, Queues, and Taxes
On effects of taxes and subsidies in game theoretic scenarios
Majority, minority, and the numbers game
Herding, minority game, market clearing and efficient markets in a simple spin model framework
Minority games, local interactions, and endogenous networks
Minority Game: Experiments and Simulations of Traffic Scenarios
The impact of financial transaction taxes on stock markets: Short-run effects, long-run effects, and migration
Trade effects of export taxes
Effects of tobin taxes in minority game markets
Multi-asset minority games
Multi-asset minority games
Cigarette Taxes and Smoking among Sexual Minority Adults
Markets, Queues, and Taxes
On effects of taxes and subsidies in game theoretic scenarios
Majority, minority, and the numbers game
Herding, minority game, market clearing and efficient markets in a simple spin model framework
Minority games, local interactions, and endogenous networks
Minority Game: Experiments and Simulations of Traffic Scenarios
The impact of financial transaction taxes on stock markets: Short-run effects, long-run effects, and migration
Trade effects of export taxes
Effects of tobin taxes in minority game markets
Multi-asset minority games
Multi-asset minority games
Cigarette Taxes and Smoking among Sexual Minority Adults
Markets, Queues, and Taxes
On effects of taxes and subsidies in game theoretic scenarios
Majority, minority, and the numbers game
Herding, minority game, market clearing and efficient markets in a simple spin model framework
Minority games, local interactions, and endogenous networks
Minority Game: Experiments and Simulations of Traffic Scenarios
The impact of financial transaction taxes on stock markets: Short-run effects, long-run effects, and migration