The Tobin Tax in a Continuous-time Non-linear Dynamic Model of the Exchange rate
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’ prot and inuences the dynamics of the system making it more stable and less prone to chaotic motion.
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- Belloc, Marianna & Federici, Daniela, 2007.
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- Jerome L. Stein, 2002. "Enlargement and the Value of the Euro," Australian Economic Papers, Wiley Blackwell, vol. 41(4), pages 462-479, December.
- Belloc Marianna & Federici Daniela & Gandolfo Giancarlo, 2008. "The Euro/Dollar Equilibrium Real Exchange Rate: A Continuous Time Approach," Economia politica, Società editrice il Mulino, issue 2, pages 243-264.
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3420, CESifo Group Munich.
- Daniela Federici & Giancarlo Gandolfo, 2011. "The Euro/Dollar Exchange Rate: Chaotic or Non-Chaotic?," DEGIT Conference Papers c016_035, DEGIT, Dynamics, Economic Growth, and International Trade.
- James Tobin, 1978.
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506, Cowles Foundation for Research in Economics, Yale University.
- Stein, Jerome L., 1990. "The real exchange rate," Journal of Banking & Finance, Elsevier, vol. 14(5), pages 1045-1078, November.
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