Tobin tax


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Tobin tax

(ˈtəʊbɪn)
n
(Economics) a proposed tax on foreign-exchange transactions intended to discourage destabilizing speculation while also raising large revenues that could be channelled to the developing world
[late C20: after James Tobin (1918–2002), US economist who proposed it]
References in periodicals archive ?
Though a "Tobin tax" wouldn't address all the issues concerning privacy and financial stability, it could discourage short-term speculative flows without undercutting incentives for more beneficial transactions such as foreign direct investment.
Proposals for a 'Robin Hood tax' (otherwise known as 'tobin tax' or financial transactions tax) has achieved global support.
"They can be truly radical - like the Tobin tax - as well, as long as they are also credible and inspiring.
"So when you are looking at things like a tax on bankers' bonuses, a tax on currency transactions - the so-called Tobin tax - or looking at cracking down on tax avoidance or evasion, actually the EU is going far further than the British government is.
Called the Tobin tax, the levy might be suspended indefinitely after a cabinet meeting in May in order to stimulate the economy, it is expected that the move would encourage foreign investors to re-enter the Italian market.
Tobin (1978) suggested that all short-term transactions in foreign-exchange markets should be taxed at a low fixed rate (the proposal was later identified as the so-called Tobin tax) because currency speculation can lead to the sudden withdrawal of currencies from circulation to artificially increase prices.
The initial rate of the forex levy - nicknamed the Tobin tax after Nobel laureate James Tobin - may be kept at zero while authorities fine-tune the rules, according to sources familiar with the matter who spoke to (http://www.bloomberg.com/news/articles/2016-03-15/china-said-to-draft-rules-for-tobin-tax-on-currency-transactions) Bloomberg .
TED Prest letter (Evening E GAZETTE 02.05.14), appears to share the views of some Middlesbrough councillors in referring to the Robin Hood Tax aka the Tobin Tax.
Authorities considering a 'Tobin tax' on financial transactions to deter speculation
Yi Gang, head of the State Administration of Foreign Exchange (SAFE), wrote in an article for the Communist Party theoretical journal Qiushi that China should "study in depth" the so-called "Tobin Tax" on financial transactions.
Some have proposed a financial transactions tax, also called a "Tobin tax" (after its first proponent, Yale economics professor James Tobin).