@techreport{Haberer2004Might,
abstract = {International financial markets are said to be excessively volatile due
to destabilizing speculation and excessive market volume. Transactions
taxes might help. From studying the literature we conclude that
there must be an optimal market liquidity, which minimizes excess
volatility. There are two effects when imposing a transactions tax.
Both reduce excess volatility in highly speculative markets when tax
rates are small. The total tax effect then is unambiguous. However,
in illiquid markets the tax might raise volatility.},
author = {Markus Haberer},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {H20; G15; G18; 330; International Financial Markets; Securities Transactions Tax; Excess Volatility; B\"{o}rsenkurs; Volatilit\"{a}t; B\"{o}rsenumsatzsteuer; Internationaler Finanzmarkt; Wertpapierspekulation; Theorie},
language = {eng},
number = {04/06},
title = {Might a Securities Transactions Tax Mitigate Excess Volatility? : Some Evidence From the Literature},
type = {Discussion paper series / Universit\"{a}t Konstanz, Center of Finance and Econometrics (CoFE)},
url = {http://hdl.handle.net/10419/23568},
year = {2004}
}
