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The Societal Benefits of a Financial Transaction Tax
Project funded by own resources |
Project title |
The Societal Benefits of a Financial Transaction Tax |
Principal Investigator(s) |
Berentsen, Aleksander
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Project Members |
Huber, Samuel Marchesiani, Alessandro
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Organisation / Research unit |
Departement Wirtschaftswissenschaften / Wirtschaftstheorie (Berentsen) |
Project Website |
https://ideas.repec.org/p/zur/econwp/176.html |
Project start |
01.10.2014 |
Probable end |
30.11.2027 |
Status |
Active |
Abstract |
We investigate the positive and normative implications of a tax on financial market transactions in a dynamic general equilibrium model, where agents face idiosyncratic liquidity shocks and financial trading is essential. Our main finding is that agents' portfolio choices display a pecuniary externality which results in too much trading. We calibrate the model to U.S. data and find an optimal tax rate of 2.5 percent. Imposing this tax reduces trading in financial markets by 30 percent |
Financed by |
University funds
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Published results () |
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ID |
Autor(en) |
Titel |
ISSN / ISBN |
Erschienen in |
Art der Publikation |
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3693123 |
Berentsen, Aleksander; Huber, Samuel; Marchesiani, Alessandro |
The societal benefits of a financial transaction tax |
0014-2921 ; 1873-572X |
European Economic Review |
Publication: JournalArticle (Originalarbeit in einer wissenschaftlichen Zeitschrift) |
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Cooperations () |
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ID |
Kreditinhaber |
Kooperationspartner |
Institution |
Laufzeit - von |
Laufzeit - bis |
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2740257 |
Berentsen, Aleksander |
Huber, Samuel |
University of Basel |
01.10.2014 |
30.11.2015 |
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2740258 |
Berentsen, Aleksander |
Marchesiani, Alessandro |
University of Bath |
01.10.2014 |
30.11.2015 |
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20/04/2024
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