演講者簡介 : Professor Chang received his Ph.D. in International Business from National Taiwan University in 2005. He is currently a Professor at National Dong Hwa University. His research fields are International Finance, Macroeconomics, Financial Economics and Monetary Theory.
演講摘要 : The study offers a conceptual and theoretical framework for evaluating the economic effects of a trading tax on foreign exchange transactions. Taxes and the price stickiness mechanism are taken into account in the model. When prices are flexible, full monetary neutrality can be obtained even in the short-term. Intuitively, taxes on foreign exchange transactions discourage speculation by increasing currency trading costs, and, thus, increase the stability of the exchange rate. Finally, the results show that not only the exchange rate but consumption, investment and employment will become less volatile by imposing trading taxes on foreign exchange transactions.
