Capelle-Blancard, Gunther; Havrylchyk, Olena - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2013
In this paper, we assess the impact of the securities transaction tax (STT) introduced in France in 2012 on market liquidity and volatility. To identify causality, we rely on the unique design of this tax that is imposed only on large French firms, all listed on Euronext. This provides two...
