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- Publisher
- Oxford University Press
- Copyright
- © The Author 2015. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.
- ISSN
- 0309-166X
- eISSN
- 1464-3545
- DOI
- 10.1093/cje/bev054
- Publisher site
- See Article on Publisher Site
Abstract
Starting from a new continuous-time non-linear dynamic model of the exchange rate, we formally show that the introduction of a Tobin tax reduces speculators’ profit and influences the dynamics of the system, making it more stable and less prone to chaotic motion.
Journal
Cambridge Journal of Economics – Oxford University Press
Published: Dec 1, 2015