EU’s financial transaction tax is feasible, and if set right, desirable
Persaud, Avinash. The ‘Tobin tax’ has once again appeared in the headlines having been proposed by the European Commission and opposed by the US. This column argues that such taxes are more feasible than most think when they are linked to legal enforceability, and that the burden would be disproportionately borne by high-frequency traders that […]
The fiscal stimulus of 2009-10: Trade openness, fiscal space, and exchange-rate adjustment
Aizenman, Joshua, Jinjarak, Yothin. In the immediate fallout from the global crisis, governments around the world responded by spending big. Yet despite the talk of international coordination, this wasn’t the case in all countries. This column explores why. It finds that trade openness, fiscal space, and exchange-rate policy played a pivotal role. Πηγή: Voxeu πλήρες κείμενο