Two abstracts from the Cambridge Journal of Economics on the Tobin tax.
Chris Burford
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Cambridge Journal of Economics, Volume 21, Issue 6: November 1997.
Commentary. Exchange rate instability and the Tobin tax
JG Smith
Robinson College, Cambridge, UK
Professor Tobin's proposal for a tax on foreign exchange transactions is attracting renewed attention in view of its growing revenue potential and concern at the instability of currency markets. This article considers a volume of essays on the possible effects and feasibility of the tax, and a report for the IMF proposing a two-tier variant of the tax. It goes on to discuss the principles on which a new and more stable exchange rate regime should be based.
Pages 745-752
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Cambridge Journal of Economics, Volume 21, Issue 6: November 1997.
How many cheers for the Tobin tax?
P Arestis and M Sawyer1
University of East London, London, UK, 1University of Leeds, UK
This paper seeks to evaluate the strength of the case for a financial transactions tax, judged against the three rationales which have been proposed for such a tax: the excessive volume of sort-term foreign exchange transactions and their effects on exchange rate volatility; the revenue-raising potential of the tax; and the possible enhancement of the autonomy of national economic policy to which it might lead.
Pages 753-768