Based on these arguments, some people have resurrected the idea of discouraging currency transactions using a tax similar to the one proposed by Professor James Tobin in the 1970s.
http://www.rba.gov.au/speeches/2018/sp-ag-2018-06-06.html  12/19  6/7/2018  Some Features of the Australian Fixed Income Market | Speeches | RBA  Graph 12  Corporate bond and Kangaroo issuance rebounded from their 2016 levels in 2017, although there have been recent years where issuance was higher. In early 2018, spreads in the Kangaroo market narrowed to levels seen prior to the global financial crisis (Graph 9).