The impact of financial transaction taxes: Evidence from Italy

Tobias Rühl () and Michael Stein ()
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Tobias Rühl: University of Duisburg-Essen
Michael Stein: University of Duisburg-Essen

Economics Bulletin, 2014, vol. 34, issue 1, 25-33

Abstract: This study gives first evidence on the consequences of the introduction of a transaction tax in Italian financial markets in 2013. We discuss the consequences of this tax on trading volume, volatility, and trading costs of FTSE MIB stocks. The structure of the tax introduction gives us the opportunity to see the particular consequences of a market-wide tax on high-frequency trading behavior.

Keywords: Market Microstructure; Financial Transaction Tax; Bid-Ask Spreads (search for similar items in EconPapers)
JEL-codes: G1 G2 (search for similar items in EconPapers)
Date: 2014-01-14
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Citations: View citations in EconPapers (5)

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