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In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 30/2011
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In: Ecotoxicology and environmental safety: EES ; official journal of the International Society of Ecotoxicology and Environmental safety, Band 203, S. 111007
ISSN: 1090-2414
In: Journal of international economics, Band 81, Heft 1, S. 109-121
ISSN: 0022-1996
In: The Canadian journal of economics: the journal of the Canadian Economics Association = Revue canadienne d'économique, Band 42, Heft 4, S. 1501-1526
ISSN: 1540-5982
Abstract Two types of policy have been proposed to eliminate noise trading in the foreign exchange market: increasing the entry cost or imposing a 'Tobin tax' type of transaction tax. In this paper, we endogenize entry decisions of both informed traders and noise traders and show that these policies may be ineffective in reducing exchange rate volatility. This is because these policies will discourage the entry of all traders, so they may not change the relative ratio of traders, or they may affect informed traders disproportionately more, which increases the relative ratio of noise traders and exchange rate volatility.
In: Canadian Journal of Economics/Revue canadienne d'économique, Band 42, Heft 4, S. 1501-1526
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In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 17/2008
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In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2008
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In: China economic review, Band 50, S. 313-328
ISSN: 1043-951X
In: China economic review, Band 23, Heft 4, S. 763-775
ISSN: 1043-951X
In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 10/2010
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In: Journal of international economics, Band 131, S. 103451
ISSN: 0022-1996
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Working paper
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Working paper
In: Journal of international economics, Band 92, S. S36-S51
ISSN: 0022-1996
In: BOFIT Discussion Paper No. 25/2013
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Working paper