Noise traders, excess volatility, and a securities transactions tax

Journal of Financial Services Research

Volumn 10, Issue 2, 1996, Pages 115-129

  Kupiec, Paul H ^a  

^a FEDERAL RESERVE BOARD   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 21344461454     PISSN: 09208550     EISSN: None     Source Type: Journal    
DOI: 10.1007/BF00115671     Document Type: Article

References (9)

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3. Keynes, J. M. The General Theory of Employment, Interest, and Money. New York: Harcourt Brace Jovanovich. 1935.
4. Kupiec, P. "A Securities Transactions Tax and Capital Market Efficiency." Contemporary Economic Policy 13 (1995), 101-112.
5. Kupiec, P., and S. Sharpe. "Animal Spirits, Margin Requirements and Stock Price Volatility." The Journal of Finance 46 (1991), 717-731.
6. Samuelson, P. A. "An Exact Consumption-Loan Model of Interest With or Without the Social Contrivance of Money," Journal of Political Economy 66 (1958), 467-482.
7. Stiglitz, J. "Using Tax Policy to Curb Speculative Short-Term Trading." Journal of Financial Services Research 2(1989), 101-116.
8. Summers, L., and V. Summers. "When Financial Markets Work Too Well: A Cautious Case for a Securities Transaction Tax." Journal of Financial Services Research 2 (1989), 26-286.
9. Tobin, J. "On the Efficiency of the Financial System," Lloyds Bank Review 153 (1984), 1-15.