报价价差在金融服务和交易中的关键作用

IF 0.9 Q3 ECONOMICS

Economics and Business Letters Pub Date : 2021-08-02 DOI:10.17811/ebl.10.3.2021.208-216

G. Peña

{"title":"报价价差在金融服务和交易中的关键作用","authors":"G. Peña","doi":"10.17811/ebl.10.3.2021.208-216","DOIUrl":null,"url":null,"abstract":"Banking has driven the development of the world for centuries. An interesting issue to analyze is the optimal spread on financial products reflecting the value added that does not generate economic distortions for consumers in intertemporal decisions. Based on a gravity equation for these services, this paper examines the optimality of a modified Quoted Spread, the recently-proposed mobile-ratio, by assessing whether the pure interest expressed as a gravity equation between interests does not change after applying this spread. Results show that the mobile-ratio is the specification of the spread with no distortions on investment decisions. Regarding fiscal policy, this ratio plays a key role for both the Financial Transaction Tax and the VAT on financial services.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":" ","pages":""},"PeriodicalIF":0.9000,"publicationDate":"2021-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The key role of quoted spreads in financial services and transactions\",\"authors\":\"G. Peña\",\"doi\":\"10.17811/ebl.10.3.2021.208-216\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Banking has driven the development of the world for centuries. An interesting issue to analyze is the optimal spread on financial products reflecting the value added that does not generate economic distortions for consumers in intertemporal decisions. Based on a gravity equation for these services, this paper examines the optimality of a modified Quoted Spread, the recently-proposed mobile-ratio, by assessing whether the pure interest expressed as a gravity equation between interests does not change after applying this spread. Results show that the mobile-ratio is the specification of the spread with no distortions on investment decisions. Regarding fiscal policy, this ratio plays a key role for both the Financial Transaction Tax and the VAT on financial services.\",\"PeriodicalId\":43184,\"journal\":{\"name\":\"Economics and Business Letters\",\"volume\":\" \",\"pages\":\"\"},\"PeriodicalIF\":0.9000,\"publicationDate\":\"2021-08-02\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Economics and Business Letters\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.17811/ebl.10.3.2021.208-216\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics and Business Letters","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.17811/ebl.10.3.2021.208-216","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 0

摘要

几个世纪以来，银行业一直推动着世界的发展。一个需要分析的有趣问题是，金融产品的最佳利差反映了在跨期决策中不会给消费者带来经济扭曲的附加值。基于这些服务的重力方程，本文通过评估用利息之间的重力方程表示的纯利息在应用该价差后是否不变，来检验最近提出的移动比率——修正报价价差的最优性。结果表明，流动比率是价差的规范，对投资决策没有扭曲。关于财政政策，这一比例对金融交易税和金融服务增值税都起着关键作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

The key role of quoted spreads in financial services and transactions

Banking has driven the development of the world for centuries. An interesting issue to analyze is the optimal spread on financial products reflecting the value added that does not generate economic distortions for consumers in intertemporal decisions. Based on a gravity equation for these services, this paper examines the optimality of a modified Quoted Spread, the recently-proposed mobile-ratio, by assessing whether the pure interest expressed as a gravity equation between interests does not change after applying this spread. Results show that the mobile-ratio is the specification of the spread with no distortions on investment decisions. Regarding fiscal policy, this ratio plays a key role for both the Financial Transaction Tax and the VAT on financial services.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Economics and Business Letters ECONOMICS-

CiteScore

1.80

自引率

11.10%

发文量

期刊介绍： Economics and Business Letters is an open access journal that publishes both theoretical and empirical quality original papers in all economics and business fields. In addition, relevant discussions on current policy issues will be considered for the Policy Watch section. As general strategy of EBL, the journal will launch calls for papers for special issues on topics of interest, generally with invited guest editors. The maximum length of the letters is limited to 2,500 words.