Publikation: Portfolio Choice and Transactions Taxes
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2003
Autor:innen
Haberer, Markus
Herausgeber:innen
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Zusammenfassung
In a simple portfolio choice model of two assets a foreign exchange transactions tax is implemented. We show that the graph in the ¹-¾2- range is still a parabola and delineate its characteristics for altering tax rates. We presumed a risk avers investor seeking to minimize investment risks by international diversification of two uncorrelated assets. The main finding is that setting up a portfolio under the new tax condition leads to a higher transaction volume on international fi- nancial markets. In contrast, the transactions tax has got a stabilizing character when adjusting the portfolio to increased foreign investment risks.
Zusammenfassung in einer weiteren Sprache
Fachgebiet (DDC)
330 Wirtschaft
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International Financial Markets, Portfolio Choice, Transactions Tax, Risk Diversification, Tobin Tax
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HABERER, Markus, 2003. Portfolio Choice and Transactions TaxesBibTex
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year={2003},
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author={Haberer, Markus}
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<dcterms:abstract xml:lang="eng">In a simple portfolio choice model of two assets a foreign exchange transactions tax is implemented. We show that the graph in the ¹-¾2- range is still a parabola and delineate its characteristics for altering tax rates. We presumed a risk avers investor seeking to minimize investment risks by international diversification of two uncorrelated assets. The main finding is that setting up a portfolio under the new tax condition leads to a higher transaction volume on international fi- nancial markets. In contrast, the transactions tax has got a stabilizing character when adjusting the portfolio to increased foreign investment risks.</dcterms:abstract>
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