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This paper studies the impact of a financial transactions tax on a financial market where financial institutions trade with each other. Assets are marked to the market and financial institutions with negative equity are forced out of business. There are two main results: First, if all banks have...
Persistent link: https://www.econbiz.de/10009571254
This paper studies the impact of a financial transactions tax on a financial market where financial institutions trade with each other. Assets are marked to the market and financial institutions with negative equity are forced out of business. There are two main results: First, if all banks have...
Persistent link: https://www.econbiz.de/10013104166
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Historical narratives typically associate financial crises with credit expansions and asset price misalignments. The … problem, we focus on financial stress and ask whether credit and asset price movements can help predict it. To measure …
Persistent link: https://www.econbiz.de/10003711679