Financial-Transaction Tax: Small Is Beautiful
Based on their contribution to the European Parliament Economic and Monetary Affairs Committee, in this Policy Contribution Resident Fellows Zsolt Darvas and Jakob von Weizsäcker discuss the merits of the much-discussed financial-transaction tax. They argue that the case for taxing financial transactions for the sake of not raising revenue is relatively weak, but a financial-transaction tax could be useful in limiting socially-undesirable transactions. On this basis, they say, a very small, coordinated tax on financial transactions could be implemented successfully.A revised version of this paper was also published in Society and Economy Volume 33, Number 3/December 2011
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- Badi Baltagi & Dong Li & Qi Li, 2006. "Transaction tax and stock market behavior: evidence from an emerging market," Empirical Economics, Springer, vol. 31(2), pages 393-408, June.
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- Zsolt Darvas, 2008. "Leveraged carry trade portfolios," Working Papers 0802, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest, revised 18 Jun 2008.
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- Victoria Saporta & Kamhon Kan, 1997. "The effects of Stamp Duty on the Level and Volatility of Equity Prices," Bank of England working papers 71, Bank of England.
- Mannaro, Katiuscia & Marchesi, Michele & Setzu, Alessio, 2008. "Using an artificial financial market for assessing the impact of Tobin-like transaction taxes," Journal of Economic Behavior & Organization, Elsevier, vol. 67(2), pages 445-462, August.
- Stephan Schulmeister, 2009. "A General Financial Transaction Tax: A Short Cut of the Pros, the Cons and a Proposal," WIFO Working Papers 344, WIFO. Full references (including those not matched with items on IDEAS)
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