An Eu Financial Transaction Tax And The Unintended Consequences For Risk Management
Download An Eu Financial Transaction Tax And The Unintended Consequences For Risk Management full books in PDF, epub, and Kindle. Read online free An Eu Financial Transaction Tax And The Unintended Consequences For Risk Management ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
| Author | : Serge Wibaut |
| Publisher | : |
| Total Pages | : 21 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
In the aftermath of the subprime crisis in the U.S. and the sovereign debt crisis in Europe, the opportunity for establishing a financial transaction tax (FTT) has become a topic of debate in the European Union. In this article, we survey the literature dealing with the possible theoretical and empirical implications of such a tax on market volatility. We then turn to the possible -- and unintended -- consequences of an FTT on savers and investors. We conclude that these consequences might outweigh the benefits of the FTT. More specifically, we find that an FTT is unlikely to meet its stated volatility control and revenue raising objectives, i.e., an FTT is unlikely to decrease volatility, and indeed, volatility might increase as markets became less liquid. It might raise very little revenue and could work to create more risk and deter long term investment.And then there are serious unintended side effects to consider. Most importantly, for the financial security and safety of the whole financial system, an FTT might heavily penalize pension funds, as well as the banks in their liquidity management and risk management activities, to the detriment of a well-functioning financial system.
| Author | : Michael Wurm |
| Publisher | : |
| Total Pages | : |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
This thesis studies the economic impact of the 2013 proposal for a financial transaction tax that has been submitted by 11 of the 27 member states of the European Union (EU FTT).The analysis covers the impact of the tax on the financial markets and evaluates the tax with respect to achieving the intended economic objectives. The thesis is based on (a) a review of the relevant literature on asset pricing, market microstructure and international finance and (b) a comparison of the EU FTT with four other types of financial transaction taxes. The results indicate that the proposal for the EU FTT largely fails to achieve its intended economic goals; It does not make the financial sector contribute to the public finances of the respective member states to a sufficient degree and it does not distinguish effectively between the targeted and unintended consequences for the financial markets.
| Author | : Ms.Thornton Matheson |
| Publisher | : International Monetary Fund |
| Total Pages | : 50 |
| Release | : 2011-03-01 |
| Genre | : Business & Economics |
| ISBN | : 1455220981 |
In reaction to the recent financial crisis, increased attention has recently been given to financial transaction taxes (FTTs) as a means of (1) raising revenue for a variety of possible purposes and/or (2) helping to curb financial market excesses. This paper reviews existing theory and evidence on the efficacy of an FTT in fulfilling those tasks, on its potential impact, and on key issues to be faced in designing taxes of this kind.
| Author | : El Bachir Boukherouaa |
| Publisher | : International Monetary Fund |
| Total Pages | : 35 |
| Release | : 2021-10-22 |
| Genre | : Business & Economics |
| ISBN | : 1589063953 |
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
| Author | : [Anonymus AC08741538] |
| Publisher | : |
| Total Pages | : 44 |
| Release | : 2010 |
| Genre | : |
| ISBN | : 9789279187353 |
"The global economic and financial crisis has created important needs for fiscal consolidation. This document analyses potential instruments to raise additional tax revenues from the financial sector. The first section reviews the current policy objectives related to the taxation of the financial sector. The second section sheds some light on the current tax treatment of the financial sector. The third section discusses potential tax instruments to reach the goals. The fourth and fifth section respectively assess the advantages and drawbacks of a Financial Transaction Tax and a Financial Activities Tax."--Editor.
| Author | : Edward Conard |
| Publisher | : Penguin |
| Total Pages | : 321 |
| Release | : 2013-04-30 |
| Genre | : Business & Economics |
| ISBN | : 1591846307 |
Was our country’s economic success before the Crash of ‘08 built on false pretenses? Did we simply borrow and spend too much, or was something else really going on? The conventional wisdom now accuses Wall Street and the mortgage industry of using predatory tactics to seduce homeowners. Meanwhile, average Americans are blamed for increasing consumption to unsustainable levels by borrowing recklessly. And the tax policies of the Reagan and Bush administrations are blamed for encouraging reckless risk-taking. Edward Conard disagrees. In an attempt to set the record straight he presents a fascinating new case for how the economy really works, why the U.S. has outperformed other countries, what caused the financial crisis, and what improvements might better protect our economy without damaging growth.
| Author | : Chia-Ying Chang |
| Publisher | : Taylor & Francis |
| Total Pages | : 208 |
| Release | : 2017-04-21 |
| Genre | : Business & Economics |
| ISBN | : 1315469405 |
The increasing capital flows in the emerging markets and developed countries have raised various concerns worldwide. One main concern is the impact of the sharp decline of capital flows – so-called sudden stops – on financial markets and the stability of banking systems and the economy. The sudden stops and banking crises have been identified as the two main features of most financial crises, including the recent Asian Financial Crisis and Global Financial Crisis. However, how capital flows and banking crises are connected still remains unanswered. Most current studies on capital flows are empirical work, which faces various challenges. The challenges include how data has been collected and measured in each country and how sensitive the results are to the data and the adopted methodologies. Moreover, the links between capital flows and banking systems have been neglected. This book helps provide some insight into the challenges faced by empirical studies and the lessons of the recent crises. The book develops theoretical analysis to deepen our understanding on how capital flows, banking systems and financial markets are linked with each other and provides constructive policy implications by overcoming the empirical challenges.
| Author | : José A. Soler Ramos |
| Publisher | : IDB |
| Total Pages | : 422 |
| Release | : 2000 |
| Genre | : Business & Economics |
| ISBN | : 9781886938717 |
"Drawing on practical methods used by successful risk managers in emerging and developed markets throughout the world, the book provides specific guidance on establishing a modern risk management framework and developing efficient approaches to increase the profitability of risk management activities in emerging market settings."--BOOK JACKET.
| Author | : |
| Publisher | : Lulu.com |
| Total Pages | : 294 |
| Release | : 2004 |
| Genre | : Bank capital |
| ISBN | : 9291316695 |
| Author | : Mrs.Michaela Erbenova |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 2016-06-30 |
| Genre | : Business & Economics |
| ISBN | : 1498336531 |
This paper focuses on the withdrawal of correspondent banking relationships (CBRs) in some jurisdictions post-global financial crisis. It describes existing evidence and consequences of the withdrawal of CBRs and explores drivers of this phenomenon drawing on recent surveys and select country information. While the withdrawal of CBRs has reached a critical level in some affected countries, which can have a systemic impact if unaddressed, macroeconomic consequences have not been identified so far at a global level. The paper presents responses from the international community to address this phenomenon, and explains the role that the IMF has been playing in this global effort, especially with regards to supporting member countries in the context of surveillance and technical assistance, facilitating dialogue among stakeholders, and encouraging data gathering efforts. The paper concludes by suggesting policy responses by public and private sector stakeholders needed to further mitigate potential negative impacts that could undermine financial stability, inclusion, growth and development goals.
