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:
CreatorsEmailORCIDORCID Put Code
Huber, JuergenUNSPECIFIEDorcid.org/0000-0003-0073-0321UNSPECIFIED
Kirchler, MichaelUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Kleinlercher, DanielUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Sutter, MatthiasUNSPECIFIEDorcid.org/0000-0002-6143-8706UNSPECIFIED
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: Unspecified
Divisions: Unspecified
Subjects: no entry
Uncontrolled Keywords:
KeywordsLanguage
TOBIN TAX; STOCK-MARKET; COSTS; FLUCTUATIONS; VOLATILITY; BEHAVIOR; AGENTSMultiple languages
EconomicsMultiple languages
Refereed: Yes
URI: http://kups.ub.uni-koeln.de/id/eprint/21643

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