Xavier Vives, 14 February 2017

Tobin taxes on financial markets, such as the EU Financial Transactions Tax, are regularly under consideration. This column argues that a rationale for a Tobin tax exists even in competitive and informationally efficient markets when traders have private information and they condition on prices. In this situation traders overreact to private information, and a transactions tax may offset this externality. 

Donato Masciandaro, Francesco Passarelli, 11 January 2012

Italy’s prime minister, Mario Monti, is the latest in a growing line of senior public figures to support the idea of a financial transaction tax - also known as a Tobin tax or Robin Hood tax. Rather than give a case for or against, this column looks at what the realistic options are and asks whether they will be better for Europe, or worse.

Avinash Persaud, 30 September 2011

The ‘Tobin tax’ has once again appeared in the headlines having been proposed by the European Commission and opposed by the US. This column argues that such taxes are more feasible than most think when they are linked to legal enforceability, and that the burden would be disproportionately borne by high-frequency traders that provide liquidity only when the markets don’t really need it.

Jeffrey Chwieroth, 19 March 2010

Jeffrey Chwieroth of the London School of Economics talks to Romesh Vaitilingam about the evolution of economic ideas at the International Monetary Fund, drawing on his book, ‘Capital Ideas: The IMF and the Rise of Financial Liberalization’. They discuss changes in IMF thinking about capital controls, the Tobin tax and macroeconomic policy – as well the possibility of IMF intervention in Greece. The interview was recorded in London on 16 March 2010.

Avinash Persaud, 30 October 2009

Avinash Persaud, chairman of Intelligence Capital, talks to Romesh Vaitilingam about financial regulation after the crisis, including whether it is feasible and desirable to introduce a ‘Tobin tax’ on financial transactions. The interview was recorded at the Global Economic Symposium in Schleswig-Holstein in September 2009.

Dani Rodrik, 28 January 2009

The global crisis is an opportunity for developing nations to project their interests in multilateral institutions, and gain influence in shaping economic globalisation. To make the best of this outcome, developing nations need a good sense of their interests and priorities, but also to recognize that having a greater say entails acceptance of greater responsibilities.

Events

  • 17 - 18 August 2019 / Peking University, Beijing / Chinese University of Hong Kong – Tsinghua University Joint Research Center for Chinese Economy, the Institute for Emerging Market Studies at Hong Kong University of Science and Technology, the Guanghua School of Management at Peking University, the Stanford Center on Global Poverty and Development at Stanford University, the School of Economics and Management at Tsinghua University, BREAD, NBER and CEPR
  • 19 - 20 August 2019 / Vienna, Palais Coburg / WU Research Institute for Capital Markets (ISK)
  • 29 - 30 August 2019 / Galatina, Italy /
  • 4 - 5 September 2019 / Roma Eventi, Congress Center, Pontificia Università Gregoriana Piazza della Pilotta, 4, Rome, Italy / European Center of Sustainable Development , CIT University
  • 9 - 14 September 2019 / Guildford, Surrey, UK / The University of Surrey

CEPR Policy Research