Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 施康教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1111/j.1540-5982.2009.01555.x |
引用次数
Scopushttp://aims.cuhk.edu.hk/converis/portal/Publication/6Scopus source URL
其它资讯
摘要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. ? Canadian Economics Association.
着者Shi K., Xu J.
期刊名称Canadian Journal of Economics / Revue Canadienne d'économique
出版年份2009
月份11
日期1
卷号42
期次4
出版社University of Toronto Press
出版地Canada
页次1501 - 152http://aims.cuhk.edu.hk/converis/portal/Publication/6
国际标準期刊号0008-4085
电子国际标準期刊号1540-5982
语言英式英语
