The effects of a Tobin tax on foreign exchange markets have long been disputed. We present an experiment with currency trading on two markets, where either none, one, or both markets are taxed. Our results confirm the hitherto undisputed issues: a tax reduces trading volume, shifts market share to untaxed markets, and leads to negligible tax revenues if tax havens exist. Concerning the controve...

This note considers Tobin’s average Q in a framework where firms finance investment by equities and debt. The determination of its long-run equilibrium value Qo is based on positing equality of the loan rate and, adjusted for a risk premium, the return on equities. Qo can thus be characterized as a ratio of two rates representing the somewhat modified interest costs and profits of the firms. Th...

A sociedade têm demonstrado relevante atenção e crescente conscientização no que se refere à sustentabilidade, porém os estudos sobre o tema apresentam evidências controversas. Assim, presente estudo teve como objetivo avaliar a relação causa-efeito entre desempenho sustentável de mercado das empresas listadas na bolsa valores dos vinte países mais sustentáveis do mundo acordo com Environmental...

Rigidity and dystonia in Huntington disease (HD) are associated with atrophy of the caudate nucleus and putamen (B). Extensive neuronal loss and gliosis in the cerebral cortex (A,C) in both HD and Alzheimer disease (AD) are responsible for varying degrees of cognitive impairment (however, neurofibrillary tangles and senile plaques are seen only in AD). Understanding a rare genetic disorder can ...

I test the hypothesis that the mobility of scienti…c and technical personnel is a conduit for knowledge spillovers among innovative …rms. Using a variant of the standard Tobin’s Q equation, I show that …rms who have access to large pools of externally created knowledge in their industrial and technological neighborhoods enjoy additional market value as a result of higher scienti…c labor mobilit...

Tobin (1958) has argued that in the face of potential capital losses on bonds it is reasonable to hold cash as a means to transfer wealth over time. It is shown that this assertion cannot be sustained taking into account the evolution of wealth of cash holders versus non cash holders. Cash holders will be driven out of the market in the long run by traders who only use a (risky) long-lived asse...

Title: TRANSIENT HYPOXIA INDUCES SEQUESTRATION OF M1 AND M2 mAChRs. Authors: Liping Mou, Alicia Gates, Valerie A. Mosser, Andrew Tobin, and Darrell A. Jackson¶ Department of Biomedical and Pharmaceutical Sciences, University of Montana, Missoula, MT 59812,Morehouse School of Medicine, Atlanta, Georgia 30310-1495. Department of Cell Physiology and Pharmacology, University of Leicester, P.O. Box ...

Tobin (1958) has argued that in the face of potential capital losses on bonds it is reasonable to hold cash as a means to transfer wealth over time. It is shown that this assertion cannot be sustained taking into account the evolution of wealth of cash holders versus non cash holders. Cash holders will be driven out of the market in the long run by traders who only use a (risky) long-lived asse...

This special report looks at the use of natural gas pipeline compressor stations on the interstate natural gas pipeline network that serves the lower 48 States. It examines the compression facilities added over the past 10 years and how the expansions have supported pipeline capacity growth intended to meet the increasing demand for natural gas. Questions or comments on the contents of this art...