Are Grains of Sand in the Wheels of International Finance Sufficient to Do the Job When Boulders Are Often Required
Bibliographic Data
| ID | 9717434 |
|---|---|
| Authors | Paul Davidson (0000-0002-6129-0748, University of Tennessee at Knoxville, corresponding author) |
| Year | 1997 |
| Volume | 107 |
| Issue | 442 |
| Pages | 671-686 |
| Publication date | 1997-05-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/j.1468-0297.1997.tb00033.x |
| OpenAlex | W2085268888 |
| Language | EN |
| Citations received | 13 |
| References cited | 11 |
This paper criticises the effectiveness of a Tobin tax in acting as a deterrent to short‐run round trip speculation on exchange rate movements. It is demonstrated that given the usual magnitude of a proposed Tobin tax, the deterrent to short‐term speculation will be negligible and in all likelihood smaller than the deterrent to real trade flows and arbitrage activities. Finally, an alternative proposal for preventing currency speculations while creating incentives for global full employment, based on Keynes's 1940s writings, is proposed
Arbitrage · Currency · Economics · Exchange rate · Financial economics · Incentive · Macroeconomics · Microeconomics · Monetary economics · Speculation · Economic theories and models · Economic Theory and Policy · Global Financial Crisis and Policies
Would International Currency Taxation and Currency Stabilisation in Developing Countries
Padrão dos fluxos de capitais
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Mobilidade de capitais e crescimento econômico
Rentismo e especulação no capitalismo determinado pelas finanças
Regime cambial para países emergentes
The Economic Contributions of Robert A. Mundell
On the Tobin Tax
Forum
Is a Plumber or a New Financial Architect Needed to End Global International Liquidity Problems
Liquidity vs. Efficiency in Liberalized International Financial Markets
Macroeconomics, financial crisis and the environment
Efficiency and Fragile Speculative Financial Markets
The general theory of employment, interest, and money
Expenditure Plans and the Uncertainty Motive for Holding Money
A Suggestion for Simplifying the Theory of Money
Sand in the Wheels of Foreign Exchange Markets
Selected Essays on Employment and Growth
Two Cases for Sand in the Wheels of International Finance
Capital Controls, the EMS and EMU
Unemployment in Europe
Is Probability Theory Relevant for Uncertainty? A Post Keynesian Perspective
The USSR Before the Fall
| Unique citing works | 13 |
|---|---|
| Citations per year | 0,46 |
| Citation span | 1998 - 2025 (28) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 12 |