search query: @indexterm PURCHASE TAX / total: 12
reference: 5 / 12
| Author: | Subrahmanyam, A. |
| Title: | Transaction taxes and financial market equilibrium. |
| Journal: | Journal of Business
1998 : JAN, VOL. 71:1, p. 81-118 |
| Index terms: | FINANCIAL MARKETS PURCHASE TAX AGENCIES |
| Language: | eng |
| Abstract: | The author examines the effects of trade-size dependent transaction taxes on market liquidity and information acquisition. Transaction taxes cause strategic informed traders to scale back their aggregate trading, which causes both market liquidity and informed investor profits to decline in the level of the tax. Taxes on trading can reduce rent-seeking behavior when agents engage in a "race" to obtain information earlier than others |
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