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Government, Taxes and Financial Crises


  • 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.

Suggested Citation

  • Augusto Hasman & Angel L. Lopez & Margarita Samartin, 2010. "Government, Taxes and Financial Crises," Documents de Travail de l'OFCE 2010-01, Observatoire Francais des Conjonctures Economiques (OFCE).
  • Handle: RePEc:fce:doctra:1001

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    References listed on IDEAS

    1. Ernst-Ludwig VON THADDEN, 1996. "Optimal Liquidity Provision and Dynamic Incentive Compatibility," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 9604, Université de Lausanne, Faculté des HEC, DEEP.
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    More about this item


    Banking crises; Information Induced Bank Runs; Government policies; Taxes.;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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