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Government, Taxes and Financial Crises

Listed author(s):
  • Augusto Hasman

    ()

    (Observatoire Français des Conjonctures Économiques and SKEMA Business School)

  • Angel L. Lopez

    ()

    (Public-Private Sector Research Center, IESE Business School)

  • Margarita Samartin

    ()

    (Business Department, Universidad Carlos III de Madrid)

This paper analyzes the effectiveness of different government policies to prevent the emergence of banking crises. In particular, we study the impact on welfare of using taxpayers money to recapitalize banks, government injection of money into the banking system through credit lines, the creation of a buffer and taxes on financial transactions (the Tobin tax). We illustrate the trade-off between these policies and derive policy implications.

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File URL: http://www.ofce.sciences-po.fr/pdf/dtravail/WP2010-01.pdf
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Paper provided by Observatoire Francais des Conjonctures Economiques (OFCE) in its series Documents de Travail de l'OFCE with number 2010-01.

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Date of creation: Jan 2010
Handle: RePEc:fce:doctra:1001
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