Title: Financial Activities Taxes, Bank Levies and Systemic Risk
Authors: CANNAS GIUSEPPINACARIBONI JessicaMARCHESI MassimoNICODEME GaetanPETRACCO GIUDICI MarcoZEDDA Stefano
Citation: Taxation Papers no. 43 p. 1-23
Publisher: Office for Official Publications of the European Communities
Publication Year: 2014
JRC N°: JRC94339
ISSN: 1725-7557
URI: http://bookshop.europa.eu/is-bin/INTERSHOP.enfinity/WFS/EU-Bookshop-Site/en_GB/-/EUR/ViewPublication-Start?PublicationKey=KPAC14043
http://publications.jrc.ec.europa.eu/repository/handle/JRC94339
DOI: 10.2778/3498
Type: Articles in periodicals and books
Abstract: The question of additional taxes on banking institutions has recently been debated. At the same time, financial regulation in the banking sector is undergoing many changes aimed at strengthening financial stability. This paper uses SYMBOL, a micro-simulation model of the banking system, to estimate contributions to systemic risk of individual banks under various future regulatory scenarios and compares them to their potential tax liabilities under alternative designs of Financial Activity Taxes and Bank Levies. The results show that when contagion is not avoided, all taxes perform about the same way. However, when contagion is avoided, bank levies outperform FATs.
JRC Directorate:Space, Security and Migration

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