Arbeitspapier
The impact of financial transaction taxes on stock markets: Short-run effects, long-run effects, and migration
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 volume, but show that the long-run effect is small and only significant for low liquidity stocks. We also identify a reduction of long-term volatility measures after the effective date as evidence for a market-stabilizing effect, and an increase in the trading volume of substitute stocks as evidence for a migration of trading activity.
- Sprache
-
Englisch
- Erschienen in
-
Series: arqus Discussion Paper ; No. 228
- Klassifikation
-
Wirtschaft
Asset Pricing; Trading Volume; Bond Interest Rates
Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
- Thema
-
financial transaction tax
market quality
announcement effect
short-run treatment effect
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Eichfelder, Sebastian
Lau, Mona
Noth, Felix
- Ereignis
-
Veröffentlichung
- (wer)
-
Arbeitskreis Quantitative Steuerlehre (arqus)
- (wo)
-
Berlin
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Eichfelder, Sebastian
- Lau, Mona
- Noth, Felix
- Arbeitskreis Quantitative Steuerlehre (arqus)
Entstanden
- 2018
Ähnliche Objekte (12)
Financial transaction taxes: Announcement effects, short-run effects, and long-run effects
Financial transaction taxes: Announcement effects, short-run effects, and long-run effects
Financial Transaction Taxes: Announcement Effects, Short-run Effects, and Long-run Effects
The impact of financial transaction taxes on stock markets: Short-run effects, long-run effects, and reallocation of trading activity
The short-run and long-run effects of decentralizing public employment services
Long-run effects of austerity
Short-run dynamics and long-run effects of demographic change on public debt and the budget
Financial openness and growth: short-run gain, long-run pain?
Financial openness and growth: short-run gain, long-run pain?
Long-Run and Short-Run Demand Response, Discount Rate, and Pricing
The Short-Run and Long-Run Effects of Trade Openness on Financial Development: Some Panel Evidence for Europe
The Impact of Financial Transaction Taxes on Stock Markets: Short- run Effects, Long-run Effects, and Reallocation of Trading Activity
Financial transaction taxes: Announcement effects, short-run effects, and long-run effects
Financial transaction taxes: Announcement effects, short-run effects, and long-run effects
Financial Transaction Taxes: Announcement Effects, Short-run Effects, and Long-run Effects
The impact of financial transaction taxes on stock markets: Short-run effects, long-run effects, and reallocation of trading activity
The short-run and long-run effects of decentralizing public employment services
Long-run effects of austerity
Short-run dynamics and long-run effects of demographic change on public debt and the budget
Financial openness and growth: short-run gain, long-run pain?
Financial openness and growth: short-run gain, long-run pain?
Long-Run and Short-Run Demand Response, Discount Rate, and Pricing
The Short-Run and Long-Run Effects of Trade Openness on Financial Development: Some Panel Evidence for Europe
The Impact of Financial Transaction Taxes on Stock Markets: Short- run Effects, Long-run Effects, and Reallocation of Trading Activity
Financial transaction taxes: Announcement effects, short-run effects, and long-run effects
Financial transaction taxes: Announcement effects, short-run effects, and long-run effects
Financial Transaction Taxes: Announcement Effects, Short-run Effects, and Long-run Effects
The impact of financial transaction taxes on stock markets: Short-run effects, long-run effects, and reallocation of trading activity
The short-run and long-run effects of decentralizing public employment services
Long-run effects of austerity
Short-run dynamics and long-run effects of demographic change on public debt and the budget
Financial openness and growth: short-run gain, long-run pain?
Financial openness and growth: short-run gain, long-run pain?
Long-Run and Short-Run Demand Response, Discount Rate, and Pricing
The Short-Run and Long-Run Effects of Trade Openness on Financial Development: Some Panel Evidence for Europe