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Efficiency and Fragile Speculative Financial Markets
Author(s) -
Davidson Paul
Publication year - 1998
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1998.tb03383.x
Subject(s) - bandwagon effect , financial market , volatility (finance) , economics , monetary economics , indirect finance , financial economics , financial market efficiency , financial system , business , finance , political science , law
A bstract This article explores the relationship between volatility in financial markets, the Tobin tax solution, and an alternative solution requiring a creditable market maker. The discussion includes whether financial markets are inherently unstable and the relevance of bandwagon movements in financial markets.