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单词 Tobin tax
释义
Tobin tax

Geography
  • James Tobin (1978) proposed a tax on all conversions of currency, which would be applied world-wide and at the same rate, in proportion to the size of the transaction. Tobin’s aim was to discourage currency speculations, in addition to raising revenue for development. McCulloch and Pacillo (2010) U. of Sussex, Economics Dept 16-2010, conclude that, ‘contrary to what is often assumed, a Tobin Tax is feasible and, if appropriately designed, could make a significant contribution to revenue without causing major distortions. However, it would be unlikely to reduce market volatility and could even increase it’.


Economics
  • An excise duty on cross-border currency transactions proposed by James Tobin, the 1981 Nobel Prize winner. Such a tax is supposed to reduce exchange rate fluctuations by discouraging short-term trading; at the same time, with a huge volume of transaction in the currency markets, the tax would generate substantial revenues that could be used for basic human and environmental needs. The term is often used more generally to describe any tax on financial transactions.


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