Bundesbank paper finds bank levy is biting
Tax on liabilities encouraging changes in behaviour of big banks
A bank levy aimed at making big banks pay for their systemic risk has caused them to change their behaviour, according to research published by the Bundesbank.
The discussion paper, Taxing Banks: An Evaluation of the German Bank Levy, by Claudia Buch, Björn Hilberg and Lena Tonzer takes advantage of the natural experiment created by the retrospective application of the tax. Introduced in 2011, the tax was applied to bank balance sheets as of 2010, allowing the researchers to identify changes in
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