TREASURY BILL AUCTIONS: ISSUES AND USES
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Abstract
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Abstract
SUMMARY Academic and policy-oriented debate on the design of government securities auctions has intensified in recent years, motivated both by the desire for more cost-effective strategies to finance large stocks of government debt, and by the recognition that non-competitive behavior may be a pervasive and costly feature of auctions of government securities around the world.
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SUMMARY Academic and policy-oriented debate on the design of government securities auctions has intensified in recent years, motivated both by the desire for more cost-effective strategies to finance large stocks of government debt, and by the recognition that non-competitive behavior may be a pervasive and costly feature of auctions of government securities around the world.
Key concepts: Treasury, Common value auction, Business, Finance, Economics, Political science, Law, Microeconomics