banks, a financial transactions tax contributes to financial distress and undoes other policy measures that are used to …This paper studies the impact of a financial transactions tax on a financial market where financial institutions trade …. There are two main results: First, if all banks have enough liquidity so that they can honor their short-term obligations, a …

people who comprise the state. In this essay I address one aspect of this issue how it affects an economic analysis of tax … systems. In addressing this task I ask, and offer some tentative answers to, what is distinctive about behavioral tax … economics as a sub-field of behavioral economics and as a sub-field of tax economics. …

How can tax policy improve financial stability? Recent studies suggest large stability gains from eliminating the debt …, complementary channel: risk taking. We model banks’ portfolio choice under moral hazard and emphasize the ‘incentive function’ of … equity. We find that (i) an allowance for corporate equity (ACE) and a lower tax rate discourage risk taking and offer …

With (automatic) exchange of tax information among countries now common, tax evaders have had to find new ways to hide … probability that their tax evasion is detected through information exchange. Using data on cross-border bank deposits, we find … that deposits in tax havens increase after a country starts offering a citizenship-by-investment program, providing …

Tax enforcement can be prohibitively costly when market transactions and participants are difficult to observe. Evasion … among market participants may reduce tax revenue and provide certain types of suppliers an undue competitive advantage … this paper, we show that an upper bound on pre-enforcement tax compliance can be obtained using market data on pre- and …

supervision of domestic banks. The regulator faces a trade-off: high capital requirements cause a drop in the banks …

between lender of last resort policy and incentives of private banks, determining the aggregate amount of liquidity available …. We show that imposing minimum liquidity standards for banks ex ante are a crucial requirement for sensible lender of last … resort policy. In addition, we analyse the impact of equity requirements and narrow banking, in the sense that banks are …