@techreport{Haberer2003Portfolio,
abstract = {In a simple portfolio choice model of two assets a foreign exchange
transactions tax is implemented. We show that the graph in the mu-sigma[square]
range is still a parabola and delineate its characteristics for altering
tax rates. We presumed a risk avers investor seeking to minimize
investment risks by international diversification of two uncorrelated
assets. The main finding is that setting up a portfolio under the new
tax condition leads to a higher transaction volume on international financial markets. In contrast, the transactions tax has got a stabilizing
character when adjusting the portfolio to increased foreign investment
risks.},
author = {Markus Haberer},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {O23; H29; H39; O16; G11; G15; G18; 330; International Financial Markets; Portfolio Choice; Risk Diversification; Tobin Tax; Transactions Tax; Portfolio-Management; international; Tobinsteuer; Internationaler Finanzmarkt; B\"{o}rsenumsatzsteuer; Theorie},
language = {eng},
number = {03/09},
title = {Portfolio Choice and Transactions Taxes},
type = {Discussion paper series / Universit\"{a}t Konstanz, Center of Finance and Econometrics (CoFE)},
url = {http://hdl.handle.net/10419/23560},
year = {2003}
}
