Definition of Tobin tax in English:
Tobin tax
nounˈtəʊbɪn taksˈtōbən ˌtaks
A proposed tax on international financial transactions, especially speculative currency exchange transactions.
Example sentencesExamples
- The author revisits the controversies surrounding the Tobin tax.
- The theoretical case for a Tobin tax represents only one part of the debate.
- The biggest barrier to implementation of the Tobin tax is political will.
- A Tobin tax in particular should be considered.
- The French National Assembly passed a resolution in November supporting the Tobin tax on international financial speculation.
- Critics argue that these problems make the Tobin tax infeasible.
- A Tobin tax imposes a small cost on transactors, giving them reason to substitute into different financial instruments.
- First, the Tobin tax would be very small in magnitude.
- This result reveals the win-win public finance character of the Tobin tax.
- Equally important is the question of whether a Tobin tax is feasible.
- A Tobin tax would also reduce the power financial markets have to determine the economic policies of national governments.
- Unfortunately, much of the opposition to a Tobin tax partakes of such a surrender.
- A modest Tobin tax should be levied on all stock market activity to finance good pensions.
- The bottom line is that the Tobin tax has a highly respectable intellectual heritage.
- That is why his sudden espousal of the Tobin tax looks unconvincing.
- The correction of negative externalities provides one economic justification for the Tobin tax.
- The current revival of interest in the Tobin tax is the result of events of the last few years.
- There are of course also major problems that make the implementation of a Tobin tax quite difficult.
- First, the extent of avoidance will depend critically on the design of the Tobin tax.
- The proposal for a 'Tobin tax' on international financial speculation is gaining widespread support.
Origin
1980s: named after the US economist James Tobin (1918–2002), who first proposed this type of tax in a lecture delivered in 1972.