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Responses to Criticisms of Taxes on Financial Speculation

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  • Dean Baker

Abstract

Although the national debate on financial transactions taxes has just begun, there have been a wide range of responses arguing that the tax is either undesirable or unenforceable, or both. This paper presents a brief response to these criticisms.

Suggested Citation

  • Dean Baker, 2010. "Responses to Criticisms of Taxes on Financial Speculation," CEPR Reports and Issue Briefs 2010-01, Center for Economic and Policy Research (CEPR).
    • Handle: RePEc:epo:papers:2010-01
    as

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    File URL: http://www.cepr.net/documents/publications/ftt-criticisms-2010-01.pdf
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    References listed on IDEAS

    as
    1. Jones, Charles M & Seguin, Paul J, 1997. "Transaction Costs and Price Volatility: Evidence from Commission Deregulation," American Economic Review, American Economic Association, vol. 87(4), pages 728-737, September.
    2. Badi Baltagi & Dong Li & Qi Li, 2006. "Transaction tax and stock market behavior: evidence from an emerging market," Empirical Economics, Springer, vol. 31(2), pages 393-408, June.
    3. Hu, Shing-yang, 1998. "The effects of the stock transaction tax on the stock market - Experiences from Asian markets," Pacific-Basin Finance Journal, Elsevier, vol. 6(3-4), pages 347-364, August.
    4. French, Kenneth R. & Roll, Richard, 1986. "Stock return variances : The arrival of information and the reaction of traders," Journal of Financial Economics, Elsevier, vol. 17(1), pages 5-26, September.
    5. Roll, R., 1989. "Price Volatility, International Market Links, And Their Implications For Regulatory Policies," Papers t10, Columbia - Center for Futures Markets.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    taxes; speculation; transactions;
    All these keywords.

    JEL classification:

    • G - Financial Economics
    • G1 - Financial Economics - - General Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G2 - Financial Economics - - Financial Institutions and Services
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G3 - Financial Economics - - Corporate Finance and Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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