Universität zu Köln

Huber, Juergen ORCID: 0000-0003-0073-0321, Kirchler, Michael, Kleinlercher, Daniel and Sutter, Matthias ORCID: 0000-0002-6143-8706 (2017). Market versus Residence Principle: Experimental Evidence on the Effects of a Financial Transaction Tax. Econ. J., 127 (605). S. F610 - 22. HOBOKEN: WILEY. ISSN 1468-0297

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Abstract

The effects of a financial transaction tax (FTT) are scientifically disputed, as seemingly small details of its implementation may matter a lot. In this article, we provide experimental evidence on the different effects of an FTT, depending on whether it is implemented as a tax on markets, on residents, or a combination of both. We find that a tax on markets has negative effects on volatility and trading volume, whereas a tax on residents shows none of these undesired effects. Additionally, we observe that individual risk attitude is not related to traders' reaction to the different forms of an FTT.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Huber, Juergen UNSPECIFIED orcid.org/0000-0003-0073-0321 UNSPECIFIED Kirchler, Michael UNSPECIFIED UNSPECIFIED UNSPECIFIED Kleinlercher, Daniel UNSPECIFIED UNSPECIFIED UNSPECIFIED Sutter, Matthias UNSPECIFIED orcid.org/0000-0002-6143-8706 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-216437
DOI:	10.1111/ecoj.12339
Journal or Publication Title:	Econ. J.
Volume:	127
Number:	605
Page Range:	S. F610 - 22
Date:	2017
Publisher:	WILEY
Place of Publication:	HOBOKEN
ISSN:	1468-0297
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Center of Excellence C-SEB
Subjects:	Economics
Uncontrolled Keywords:	Keywords Language TOBIN TAX; STOCK-MARKET; COSTS; FLUCTUATIONS; VOLATILITY; BEHAVIOR; AGENTS Multiple languages Economics Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/21643