Portfolio Choice and Transactions Taxes

Haberer, Markus

Portfolio Choice and Transactions Taxes

Dateien

03-09.pdfGröße: 166.07 KBDownloads: 375

Datum

2003

Autor:innen

Haberer, Markus

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Working Paper/Technical Report

Publikationsstatus

Published

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.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

International Financial Markets, Portfolio Choice, Transactions Tax, Risk Diversification, Tobin Tax

Zitieren

ISO 690

HABERER, Markus, 2003. Portfolio Choice and Transactions Taxes

BibTex

@techreport{Haberer2003Portf-11941,
  year={2003},
  series={CoFE-Diskussionspapiere / Zentrum für Finanzen und Ökonometrie},
  title={Portfolio Choice and Transactions Taxes},
  number={2003/09},
  author={Haberer, Markus}
}

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