Tobin Tax

A proposed tax on foreign exchange transactions. The tax is intended to reduce excessive speculation on currencies by making it more expensive. First proposed after the collapse of the Bretton Woods system, the Tobin tax is often re-proposed after major currency crises because speculation can cause unsustainable rises and crashes in foreign exchange rates.

Tobin tax

a proposed international TAX on all transactions in the FOREIGN EXCHANGE MARKET. Tobin, who advocated this tax, argued that it would discourage destabilizing speculation and make foreign exchange markets less volatile. See SPECULATOR.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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References in periodicals archive

Although the FTT is connected to and understood as a Tobin tax in most cases, several different tax instruments are generally referred to as "financial transaction taxes." Matheson (2011) defines a securities transaction tax (STT) as a tax on trades in all or certain types of securities (equity, debt and their derivatives).

Financial transaction taxation in agent-based simulation

The Chinese authorities are considering a "Tobin tax" on financial transactions to deter speculative capital flows, said Guan Tao, head of the department of international payments at the State Administration of Foreign Exchange (SAFE).

China sees more inflows

French President Francois Hollande supported the so-called Tobin tax in his presidential election campaign, but has seen his Finance Minister, Pierre Moscovici, break ranks on the issue.

BANQUE DE FRANCE CHIEF CRITICISES FTT

A financial transactions tax, or "Tobin Tax" throughout the EU, although set at a very low rate, would reduce risky speculation and the problems it causes and raise enough revenue to address issues such as youth unemployment.

Are we having the right debate? Conservative MP Adam Afriye has called for Britain to hold an in-out referendum on the EU next year. Journal columnists DAVID TAYLOR-GOOBY and PETER TROY examine the issue

A measured response to check market fluctuations would be to impose a Tobin Tax on foreign exchange currency transactions.

MAIL TODAY COMMENT

Widely known as a Tobin tax, after Nobel-prize winning U.S.

EU Commission backs 10 countries' transaction tax plan

More than 15 countries now have a Financial Transaction Tax (FTT)--sometimes called a Robin Hood Tax or Tobin Tax.

US nurses push Robin Hood tax: taxing financial speculators to help pay for economic recovery and quality public services is a growing demand in countries ravaged by the long recession

But what about the much-heralded "Tobin tax", introduced on 1 August?

Mr Neoliberal?

The duty, known as the Tobin tax, would mean a charge on all financial deals.

ROBIN HOOD BANKS TAX; Miliband to squeeze City if he becomes PM

Though the Tobin tax was proposed to cover currency transactions, it is considered as more general concept related to different financial transactions (Palley, 2003).

Special taxes in banking

Oxfam Scotland called on First Minister Alex Salmond to follow O'Brien's example and publicly support the Robin Hood tax, which is also known as the Tobin tax.

You've helped the very rich.. now have pity on the poor; MONEY MEN .. PM GETS BASHING AND RICH REVEALED UK'S 10 RICHEST Cardinal slates Cameron over 'immoral' favours for wealthy