Daniel G. Weaver

Latest

Security Transaction Taxes and Market Quality

Staff Working Paper 2011-26 Anna Pomeranets, Daniel G. Weaver
We examine nine changes in the New York State Security Transaction Taxes (STT) between 1932 and 1981. We find that imposing or increasing an STT results in wider bidask spreads, lower volume, and increased price impact of trades.

See More

Follow the Bank