The economic consequences of a Tobin tax—An experimental analysis
作者： Michael Hanke , Jürgen Huber , Michael Kirchler , Matthias Sutter
DOI: 10.1016/J.JEBO.2010.02.004
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摘要: Abstract The effects of a Tobin tax on foreign exchange markets have long been disputed. We present an experiment with currency trading two markets, where either none, one, or both are taxed. Our results confirm the hitherto undisputed issues: reduces volume, shifts market share to untaxed and leads negligible revenues if havens exist. Concerning controversial issues we find that (i) volatility depend existence size, (ii) efficiency decreases in taxed when exist, (iii) short-term speculation is reduced.
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