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Government, Taxes and Financial Crises

Author

Listed:
  • 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)

Abstract

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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    File URL: http://www.ofce.sciences-po.fr/pdf/dtravail/WP2010-01.pdf
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    More about this item

    Keywords

    Banking crises; Information Induced Bank Runs; Government policies; Taxes.;
    All these keywords.

    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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