Carfì, David and Musolino, Francesco (2012): Game theory model for European government bonds market stabilization: a saving-State proposal.
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The aim of this paper is to present a proposal regarding the possible stabilization of the rapid variations on the value of government bonds issued by the States, using the ``Game Theory". In particular, we focus our attention on three players: a large bank that has immediate access to the market of government bonds (hereinafter called Speculator, our first player), the European Central Bank (ECB, the second player) and the State in economic difficulty (our third player). We propose on financial transactions the introduction of a tax (cashed directly by the State in economic difficulty), which hits only the speculative profits. We show that the above tax would probably be able to avert the speculation, and, even in case of speculation on its government bonds, the State manages to pull itself out of the crisis. Finally, we also propose a cooperative solution that enables all economic actors involved (the Speculator, the ECB and the State) to obtain a profit.
|Item Type:||MPRA Paper|
|Original Title:||Game theory model for European government bonds market stabilization: a saving-State proposal|
|Keywords:||Game theory; Government bonds; European Central Bank; Spread; Tax; Speculation|
|Subjects:||G - Financial Economics > G1 - General Financial Markets
G - Financial Economics > G2 - Financial Institutions and Services
C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory
E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates
|Depositing User:||Francesco Musolino|
|Date Deposited:||30. Jun 2012 21:59|
|Last Modified:||12. Feb 2013 16:50|
Carfì David, 2009. Complete study of linear infinite games. Prooceeding of the International Conference “Geometry in Odessa 2009”, Odessa, 25 - 30 May 2009 - vol. 2 n. 3 (2009) http://proceedings.d-omega.org/
Carfì David, 2009. Differentiable game complete analysis for tourism firm decisions. Proceedings of THE 2009 INTERNATIONAL CONFERENCE ON TOURISM and WORKSHOP on Sustainable tourism within High Risk areas of environmental crisis, Messina, April 22/25 (2009) http://mpra.ub.uni-muenchen.de/29193/
Carfì David, Edizioni Il Gabbiano, 2010. Topics in Game Theory.
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Carfì David, Musolino Francesco, 2011. Game complete analysis for financial markets stabilization. http://mpra.ub.uni-muenchen.de/34901/
Carfì David, Musolino Francesco, 2012. A coopetitive approach to financial markets stabilization and risk management. Prooceeding of the International Conference “14th International Conference on Information Processing and Management of Uncertainty in Knowledge-Based Systems" Catania, Italy, July 9 - 13, 2012. Accepted for publication in Springer.
David, Musolino Francesco, 2012. Game Theory and Speculation on Government Bonds. Accepted for publication on Economic Modelling Journal, Elsevier.
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Carfì David, Musolino Francesco, 2012. Tax Evasion: Study of the Phenomenon and Possible Economic Countermeasures. Pre-print on Elsevier.