Cont-Bouchaud percolation model including Tobin tax

Details Cont-Bouchaud percolation model including Tobin tax Cont-Bouchaud percolation model including Tobin tax

2002-05-15

arxiv.org/abs/cond-mat/0205320v1

Physics

Condensed Matter

Statistical Mechanics

Expanded for of paper to be published in Int. J. Mod. Phys. C 13 (2002)

Scientific paper

10.1142/S0129183102003917

The Tobin tax is an often discussed method to tame speculation and get a source of income. The discussion is especially heated when the financial markets are in crisis. In this article we refer to foreign exchange markets. The Tobin tax should be a small international tax affecting all currency transactions and thus consequently reducing the destabilizing speculations. In this way this tax should take over a control function. By including Tobin tax in the microscopic model of Cont and Bouchaud one finds that Tobin tax could be the right method to control foreign exchange operations and get a good source of income

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