Microstructure of Foreign Exchange Markets and the Tobin Tax

"Recent Exchange Rate Experience, The Tobin Tax, and Other Proposals for Reform," published in Part I, Exchange Rates, Capital Flows and Monetary Policy in a Changing World Economy, W.Gruben, D.Gould & C.Zarazaga, eds. (Kluwer Academic Publ., Boston), 1997. 

The Microstructure of Foreign Exchange Markets, edited with G. Galli and A. Giovannini (University of Chicago Press, Chicago), 1996.

"How Well Do Foreign Exchange Markets Function: Might a Tobin Tax Help?,"  Chapter 2 in The Tobin Tax: Coping with Financial Volatility, Mahbub ul Haq, Inga Kaul, & Isabelle Grunberg, eds. (Oxford University Press, NY), 1996, 41-81.  Written for conference on New and Innovative Sources of Financing Development, UNDP, Oct. 10, 1995.  With appendix.  NBER WP 5422, Feb. 1996.   //

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