Exchange Rate Instability and the Tobin Tax
Professor James Tobin's proposal for a tax on foreign exchange transactions is attracting renewed attention in view of its growing revenue potential and concern at the instability of currency markets. This article considers a volume of essays on the possible effects and feasibility of the tax, and a report for the IMF proposing a two-tier variant of the tax. It goes on to discuss the principles on which a new and more stable exchange rate regime should be based. Copyright 1997 by Oxford University Press.
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Volume (Year): 21 (1997)
Issue (Month): 6 (November)
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