Editing Tobin tax (section)

===Research evidence===
In 2003, researchers like Aliber et al. proposed that empirical evidence on the observed effects of the already introduced and abolished [[stock]] transaction taxes{{Where|date=July 2011}} and a hypothetical CTT (Tobin) can probably be treated ''interchangeably.''<ref>{{Cite journal|last1=Aliber|first1=R.|last2=Chowdhry|first2=B.|last3=Yan|first3=S.|name-list-style=amp|year=2003|title=Some Evidence that a Tobin Tax on Foreign Exchange Transactions Might Increase Volatility|journal=European Finance Review|volume=7|issue=3|pages=481–510|doi=10.1023/B:EUFI.0000022143.77321.20|doi-access=free}}</ref> They did not find any evidence on the differential effects of introducing or removing, stock transactions taxes or a hypothetical currency (Tobin) tax on any subset of markets or all markets.

Researchers have used models belonging to the [[GARCH]] family<ref>{{Cite journal|last1=Kearney|first1=Colm|last2=Patton|first2=Andrew J.|year=2000|title=Multivariate GARCH Modeling of Exchange Rate Volatility Transmission in the European Monetary System|journal=Financial Review|volume=35|issue=1|pages=29–48|doi=10.1111/j.1540-6288.2000.tb01405.x|issn=1540-6288}}</ref><ref>{{Cite journal|last1=Worthington|first1=Andrew|last2=Higgs|first2=Helen|name-list-style=amp|year=2004|title=Transmission of equity returns and volatility in Asian developed and emerging markets: a multivariate GARCH analysis|url=http://eprints.qut.edu.au/2316/1/2316.pdf|journal=International Journal of Finance and Economics|volume=9|issue=1|pages=71–80|citeseerx=10.1.1.583.4868|doi=10.1002/ijfe.222|hdl=10072/21731 |access-date=2017-11-02|archive-url=https://web.archive.org/web/20170808201628/http://eprints.qut.edu.au/2316/1/2316.pdf|archive-date=2017-08-08|url-status=live}}</ref><ref>{{cite journal|last1=Valadkhani|first1=Abbas|last2=O'Brien|first2=Martin|year=2009|title=Modelling Australian Stock Market Volatility: A Multivariate GARCH Approach|url=https://ideas.repec.org/p/uow/depec1/wp09-11.html|journal=School of Economics, University of Wollongong, Australia, Working Paper|access-date=2015-03-21|archive-url=https://web.archive.org/web/20150402102127/https://ideas.repec.org/p/uow/depec1/wp09-11.html|archive-date=2015-04-02|url-status=live}}</ref> to describe both the volatility behavior of [[stock market]] returns and the volatility behavior of foreign exchange rates. This is used as evidence that the similarity between currencies and stocks in the context of a tax designed to curb volatility such as a CTT (or FTT in general) can be inferred from the almost identical (statistically indistinguishable) behavior of the volatilities of equity and exchange rate returns.