{"id":118710,"date":"2024-01-22T22:08:36","date_gmt":"2024-01-22T21:08:36","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/118710\/"},"modified":"2024-11-07T04:58:35","modified_gmt":"2024-11-07T03:58:35","slug":"a-general-financial-transactions-tax-motives-effects-and-implementation-according-to-the-proposal-of-the-european-commission","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/118710\/","title":{"rendered":"A General Financial Transactions Tax. Motives, Effects and Implementation According to the Proposal of the European Commission"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-118710","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The paper summarises at first the main arguments in favour and against a FTT and provides empirical evidence about the movements of the most important asset prices. It is shown that their long swings result from the accumulation of extremely short-term price runs over time. Therefore a (very) small FTT \u2013 between 0.1 and 0.01 percent \u2013 would mitigate price volatility not only over the short run but also over the long run. The subsequent section discusses the most important implementation issues if only a group of 11 EU member countries introduces this tax (without the UK). If London subsidiaries of banks established in one of the FTT countries are treated as part of their parent company, overall FTT revenues of the 11 FTT countries are estimated at \u20ac 65.8 billion, if London subsidiaries are treated as British financial institutions, tax revenues would amount to only \u20ac 28.3 billion.","onlinedate":"2014-02-07 12:00:00","lang":"English","publication_series":"","publication_date":"20140201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"30","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":351373,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"461","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2014-02-07 12:00:00","types":[44410],"research_groups":[3491],"collaboration":"","persons":[3841],"persons_data":"[{\"personId\":3841,\"personName\":\"Stephan Schulmeister\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v26.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A General Financial Transactions Tax. 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