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| Author: | Jones, C. Seguin, P. |
| Title: | Transaction costs and price volatility: evidence from commission deregulation |
| Journal: | American Economic Review
1997 : SEP, VOL. 87:4, p. 728-737 |
| Index terms: | ECONOMICS TRANSACTION COSTS PRICES |
| Language: | eng |
| Abstract: | As noted by G. William Schwert and Seguin (1993), a new annual rite has been introduced into the Washington legislative calendar: the proposal of some sort of securities transaction tax (STT). Broadly based STTs have been under consideration since 1987, with more recent proposals more narrowly focused, including "user fees" for exchange-traded derivatives. Proponents of STTs have suggested benefits beyond generating additional tax revenues. |
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