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The Tobin tax in a continuous-time non-linear dynamic model of the exchange rate

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Listed:
  • Giancarlo Gandolfo

Abstract

Starting from a new continuous-time non-linear dynamic model of the exchange rate, we formally show that the introduction of a Tobin tax reduces speculators’ profit and influences the dynamics of the system, making it more stable and less prone to chaotic motion.

Suggested Citation

  • Giancarlo Gandolfo, 2015. "The Tobin tax in a continuous-time non-linear dynamic model of the exchange rate," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 39(6), pages 1629-1643.
    • Handle: RePEc:oup:cambje:v:39:y:2015:i:6:p:1629-1643.
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    File URL: http://hdl.handle.net/10.1093/cje/bev054
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    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications
    • C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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