1 option
Securities Transaction Taxes and Financial Markets / Karl Habermeier, Andrei Kirilenko.
- Format:
- Book
- Government document
- Author/Creator:
- Habermeier, Karl.
- Series:
- IMF Working Papers; Working Paper ; No. 2001/051
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (30 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2001.
- Language Note:
- English
- Summary:
- This paper argues that securities transaction taxes "throw sand" not in the wheels, but into the engine of financial markets where the transformation of latent demands into realized transactions takes place. The paper considers the impact of transaction taxes on financial markets in the context of four questions. How important is trading? What causes price volatility? How are prices formed? How valuable is the volume of transactions? The paper concludes that transaction taxes or such equivalents as capital controls can have negative effects on price discovery, volatility, and liquidity and lead to a reduction in the informational efficiency of markets.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9786613778765
- 9781462339938
- 146233993X
- 9781452768441
- 1452768447
- 9781281331359
- 128133135X
- 9781451894134
- 1451894139
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.