haku: @author Davidson, P. / yhteensä: 5
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| Tekijä: | Davidson, P. |
| Otsikko: | Efficiency and fragile speculative financial markets: against the Tobin tax and for a credible market maker |
| Lehti: | American Journal of Economics and Sociology
1998 : OCT, VOL. 57:4, p. 639-662 |
| Asiasana: | SOCIOLOGY ECONOMICS FINANCIAL MARKETS |
| Kieli: | eng |
| Tiivistelmä: | This article explores the relationship between volatility in financial markets, the Tobin tax solution, and an alternative solution requiring a creditable market maker. The discussion includes whether financial markets are inherently unstable and the relevance of bandwagon movements in financial markets. Since the oil price shock of 1973 and the Mexican threat of default in 1982, there have been recurrent problems in international monetary payment balances. |
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