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How many cheers for the Tobin transactions tax?

Article Abstract:

The Tobin tax, suggested by James Tobin, aims at levying foreign exchange transactions to raise revenue and decrease the overwhelming volume of speculative transactions. The tax scheme works by discouraging drastic changes in exchange rate and, thus, enhance international trade. By imposing a tax, as small as 0.1%, a revenue of $200 billion can be realised for use in development and conservation purposes. However, the Tobin tax can only meet these goals if it is implemented in a coordinated manner by all countries concerned.

Author: Arestis, Philip, Sawyer, Malcolm
Publisher: Academic Press Ltd.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 1997
Management, Foreign exchange

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On the measurement of Tobin's q

Article Abstract:

An alternative method is devised for a simpler and accurate derivation of the metric q. The metric q was devised by Tobin and Brainard as the ratio of the market value of the outstanding financial claims on the firm to the current replacement cost of the firm's assets. The method relies on the improvement of measuring fixed assets that are in place for the firm. Comparing the procedure with established estimates of asset replacement costs showed the old system to be downward-biased.

Author: Lewellen, Wilbur G., Badrinath, S.G.
Publisher: Elsevier B.V.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 1997
Debt & Capital Management, Models, Capital assets, Financial management

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The ultimate externality

Article Abstract:

A two-period model is derived to analyze the issues of childbearing choices and externalities. The model is that of a competitive economy with a pollution externality created by the aggregate consumption of one of two goods. It is argued that a childbearing tax should be approximately equal to the per capita net present value of Pigovian taxes and subsidies paid by one's child. Other findings are discussed.

Author: Harford, Jon D.
Publisher: American Economic Association
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
Childbirth, Delivery (Childbirth)

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Subjects list: Analysis, Taxation
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