This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Are Grains of Sand in the Wheels of International Finance Sufficient to Do the Job When Boulders Are Often Required?

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Davidson, Paul

Additional information is available for the following registered author(s):

Abstract

This paper criticizes the effectiveness of a Tobin tax in acting as a deterrent to short-run round trip speculation on exchange rate movements. It is demonstrated that, given the usual magnitude of a proposed Tobin tax, the deterrent to short-term speculation will be negligible and in all likelihood smaller than the deterrent to real trade flows and arbitrage activities. Finally, an alternative proposal for preventing currency speculation while creating incentives for global full employment, based on John Maynard Keynes's 1940s writings, is proposed. Copyright 1997 by Royal Economic Society.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help file. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://links.jstor.org/sici?sici=0013-0133%28199705%29107%3A442%3C671%3AAGOSIT%3E2.0.CO%3B2-4&origin=bc
File Format: application/pdf
File Function: full text
Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 107 (1997)
Issue (Month): 442 (May)
Pages: 671-86
Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Handle: RePEc:ecj:econjl:v:107:y:1997:i:442:p:671-86

Contact details of provider:
Web page: http://www.res.org.uk/
More information through EDIRC

Order Information:
Web: http://www.blackwellpublishers.co.uk/asp/journal.asp?ref=0013-0133

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Andrea Terzi, 2003. "Is a transactions tax an effective means to stabilize the foreign exchange market?," Working Papers 0303, University of Bergamo, Department of Economics. [Downloadable!]
    Other versions:
  2. Korkut Erturk, 2003. "A Note on the Tobin Tax," Working Paper Series, Department of Economics, University of Utah 2003_05, University of Utah, Department of Economics. [Downloadable!]
  3. Robert Pollin & Dean Baker & Marc Schaberg, 2003. "Securities Transaction Taxes for U.S. Financial Markets," Eastern Economic Journal, Palgrave Macmillan Journals, vol. 29(4), pages 527-558, Fall. [Downloadable!] (restricted)
  4. Robert E. Prasch, 2001. "The Economic Contributions of Robert A. Mundell," Review of Political Economy, Taylor and Francis Journals, vol. 13(1), pages 41-58, January. [Downloadable!] (restricted)
  5. Anna M.Variato, 2003. "The Keynesian Root of the Tobin tax," Working Papers 0305, University of Bergamo, Department of Economics. [Downloadable!]
  6. Hakun Kim, 2004. "The Mathematical Decomposition of the Transactions Velocity of Money," Econometric Society 2004 Far Eastern Meetings 550, Econometric Society. [Downloadable!]
  7. Robert Pollin & Dean Baker & Marc Schaberg, 2003. "Securities Transaction Taxes for U.S. Financial Markets," Eastern Economic Journal, Eastern Economic Association, vol. 29(4), pages 527-558, Fall. [Downloadable!]
    Other versions:
  8. Raviol, Edoardo, 2007. "Stabilizing the International Financial System and Financing Development: An Analysis of the Tobin Tax," Vassar College Department of Economics Working Paper Series 90, Vassar College Department of Economics. [Downloadable!]
  9. Korkut Erturk, 2002. "Why the Tobin Tax Can Be Stabilizing," Economics Working Paper Archive 366, Levy Economics Institute, The. [Downloadable!]
  10. Markus Haberer, 2003. "Some Criticism of the Tobin Tax," CoFE Discussion Paper 03-01, Center of Finance and Econometrics, University of Konstanz. [Downloadable!]
  11. Markus Haberer, 2003. "Portfolio Choice and Transactions Taxes," CoFE Discussion Paper 03-09, Center of Finance and Econometrics, University of Konstanz. [Downloadable!]
  12. Kari Alho, 2000. "Optimal Fiscal and Monetary Policies in a Recession : Is There a Way out of the Trap in an Open EconomyN. (Revised September 2002)," Discussion Papers 735, The Research Institute of the Finnish Economy. [Downloadable!]
Statistics
Access and download statistics

Did you know? To receive notification of recent additions to the database, subscribe to the free NEP reports.

This page was last updated on 2008-8-19.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.