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Taxation of the financial sector: Is a bank levy the answer to the financial crisis?

To reduce the probability of financial crises, policymakers have introduced bank levies, whose application differs across countries. The problem in their use lies in identifying the most effective regulatory instruments to reduce risk. Our study might be of interest to various researchers and profes...

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Autor principal: Puławska, Karolina
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Palgrave Macmillan UK 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8364302/
http://dx.doi.org/10.1057/s41261-021-00178-w
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author Puławska, Karolina
author_facet Puławska, Karolina
author_sort Puławska, Karolina
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description To reduce the probability of financial crises, policymakers have introduced bank levies, whose application differs across countries. The problem in their use lies in identifying the most effective regulatory instruments to reduce risk. Our study might be of interest to various researchers and professionals, as we discuss the significance of research on bank levies with respect to theory and economic practice and then propose models of banking sector taxation and directions for future research. Moreover, this paper presents the history of taxation of the financial sector, the models introduced in different European countries, the advantages and disadvantages of each of the possible solutions, the results of studies on the impact of the new levy on the behavior of the financial sector and recommendations for how the levy should be structured.
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spelling pubmed-83643022021-08-15 Taxation of the financial sector: Is a bank levy the answer to the financial crisis? Puławska, Karolina J Bank Regul Original Article To reduce the probability of financial crises, policymakers have introduced bank levies, whose application differs across countries. The problem in their use lies in identifying the most effective regulatory instruments to reduce risk. Our study might be of interest to various researchers and professionals, as we discuss the significance of research on bank levies with respect to theory and economic practice and then propose models of banking sector taxation and directions for future research. Moreover, this paper presents the history of taxation of the financial sector, the models introduced in different European countries, the advantages and disadvantages of each of the possible solutions, the results of studies on the impact of the new levy on the behavior of the financial sector and recommendations for how the levy should be structured. Palgrave Macmillan UK 2021-08-14 2022 /pmc/articles/PMC8364302/ http://dx.doi.org/10.1057/s41261-021-00178-w Text en © The Author(s), under exclusive licence to Springer Nature Limited 2021 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Original Article
Puławska, Karolina
Taxation of the financial sector: Is a bank levy the answer to the financial crisis?
title Taxation of the financial sector: Is a bank levy the answer to the financial crisis?
title_full Taxation of the financial sector: Is a bank levy the answer to the financial crisis?
title_fullStr Taxation of the financial sector: Is a bank levy the answer to the financial crisis?
title_full_unstemmed Taxation of the financial sector: Is a bank levy the answer to the financial crisis?
title_short Taxation of the financial sector: Is a bank levy the answer to the financial crisis?
title_sort taxation of the financial sector: is a bank levy the answer to the financial crisis?
topic Original Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8364302/
http://dx.doi.org/10.1057/s41261-021-00178-w
work_keys_str_mv AT puławskakarolina taxationofthefinancialsectorisabanklevytheanswertothefinancialcrisis