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Author : Elizabeth B. Cammack
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (376 download)
Download or read book Evidence on Bidding Strategies and the Information in Treasury Bill Auctions written by Elizabeth B. Cammack and published by . This book was released on 1987 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Elizabeth B. Cammack
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (166 download)
Download or read book Evidence on Bidding Strategies and the Information Contained in Treasury Bill Auctions written by Elizabeth B. Cammack and published by . This book was released on 1987 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel C. L. Hardy
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)
Download or read book Bidding Behavior in Treasury Bill Auctions written by Daniel C. L. Hardy and published by International Monetary Fund. This book was released on 2000-06 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavior in the first three years of auctions for Pakistani treasury bills is studied. Bidding strategies rapidly converged to a consistent pattern after the auctions started in 1991. Factors are identified that influenced the expected profitability of auction participation, which was on average low and did not differ between types of bidders. Prices bid are found to reflected both ‘buy and sell’ and ‘buy and hold’ strategies, and were affected by risk considerations and bidder-specific variables. The Pakistani experience suggests the robustness of auctions as a market-based allocation mechanism, and their value in public debt management.
Author : Daniel Hardy
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (129 download)
Download or read book Bidding Behavior in Treasury Bill Auctions written by Daniel Hardy and published by . This book was released on 2006 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavior in the first three years of auctions for Pakistani treasury bills is studied. Bidding strategies rapidly converged to a consistent pattern after the auctions started in 1991. Factors are identified that influenced the expected profitability of auction participation, which was on average low and did not differ between types of bidders. Prices bid are found to reflected both 'buy and sell' and 'buy and hold' strategies, and were affected by risk considerations and bidder-specific variables. The Pakistani experience suggests the robustness of auctions as a market-based allocation mechanism, and their value in public debt management.
Author : Vincent Reinhart
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.3/5 ( download)
Download or read book Theory and Evidence on Reform of the Treasury's Auction Procedures written by Vincent Reinhart and published by . This book was released on 1992 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Carlo Cottarelli
Publisher : International Monetary Fund
ISBN 13 : 1451855648
Total Pages : 70 pages
Book Rating : 4.4/5 (518 download)
Download or read book Treasury Bill Auctions written by Mr.Carlo Cottarelli and published by International Monetary Fund. This book was released on 1994-11-01 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: We review the main issues that arise in the design of treasury bill auctions and survey the relevant empirical literature. We also provide a detailed description of the actual design of these auctions in a sample of 42 industrial and developing countries.
Author : Kjell G. Nyborg
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Bidder Behavior in Multi-Unit Auctions - Evidence from Swedish Treasury Auctions written by Kjell G. Nyborg and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze a unique data set on multiunit auctions, which contains the actual demand schedules of the bidders as well as the auction awards in over 400 Swedish Treasury auctions. First, we document that bidders vary their prices, bid dispersion, and the quantity demanded in response to increased uncertainty at the time of bidding. Second, we find that bid shading can be explained by a winner's curse-driven model in which each bidder submits only one bid, despite the fact that the bidders in our data set use much richer bidding strategies. Third, we explore the extent to which the received theories of multiunit auctions are able to offer insights into the bidder behavior we observe. Our empirical evidence is consistent with some of the predictions of the models of auctions that emphasize private information, the winner's curse, and the champion's plague. While the models of multiunit auctions serve as useful guideposts, our empirical findings also point to several new areas of research in multiunit auctions that are of policy and theoretical interest.
Author : Alan A. Rabin
Publisher : CRC Press
ISBN 13 : 9780824707811
Total Pages : 1848 pages
Book Rating : 4.7/5 (78 download)
Download or read book Handbook of Monetary and Fiscal Policy written by Alan A. Rabin and published by CRC Press. This book was released on 2001-12-19 with total page 1848 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the politics of economic policy, focusing on forecasting, inflation, interest rates, market expectations, financial crises, disruptions in global markets, and tax policy, as well as state and local government budgeting, financial management, and policy initiatives for development and growth.
Author : Jack Rabin
Publisher : CRC Press
ISBN 13 : 9780824707736
Total Pages : 824 pages
Book Rating : 4.7/5 (77 download)
Download or read book Handbook of Fiscal Policy written by Jack Rabin and published by CRC Press. This book was released on 2001-12-19 with total page 824 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing forty articles written by experts, this book explores the development of government spending and revenue policymaking, the legacy of John Maynard Keynes, taxes and tax policies, government budgeting and accounting, and government debt management. Topics include the implications of the federal balanced budget amendment, factors that affect implementation of fiscal policies, the relationship between tax assessment and economic prosperity, and debt management strategies by government institutions. It covers the role of government in formulating economic policies for growth and full employment and reviews issues associated with the implementation of fiscal policies.
Author : Kristian Rydqvist
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (13 download)
Download or read book Pre-Auction Inventory and Bidding Behavior written by Kristian Rydqvist and published by . This book was released on 2014 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many bidders enter the Government of Canada securities auctions with short or long pre-auction inventory. We find that bidding strategies and auction performance vary with pre-auction ownership structure. Short and long bidders bid higher average prices and demand larger quantities than do bidders with neutral pre-auction inventory. The effects of pre-auction ownership on bidder behavior vary with the auction cycle and with uncertainty. We argue that post-auction short squeeze does not explain the observed relation between securities prices and ownership structure.
Author : Maarten Christiaan Wilhelmus Janssen
Publisher : Cambridge University Press
ISBN 13 : 9780521537575
Total Pages : 340 pages
Book Rating : 4.5/5 (375 download)
Download or read book Auctioning Public Assets written by Maarten Christiaan Wilhelmus Janssen and published by Cambridge University Press. This book was released on 2004 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many countries all over the world, governments are privatising firms that were previously under public control. This is happening, for example, in public utility sectors such as gas, water and electricity, in transport sectors (such as rail and metro) and in radio and telephony. This book provides an overview of the economic issues that are involved in this transfer of ownership of public assets. Combining a theoretical framework with a set of case studies of recent sales of state-owned assets from Europe and the USA, it asks which sort of allocation mechanism can a government adopt? Which is most suited to a particular sale? And how will the choice of allocation mechanism affect future market outcomes? With contributions from international experts, this book offers an accessible introduction to auction theory and an invaluable, non-technical analysis of existing knowledge. It will be of interest to students, non-specialists and policy-makers alike.
Author : Kjell G. Nyborg
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 ( download)
Download or read book Bidder Behavior in Multiple Unit Auctions written by Kjell G. Nyborg and published by . This book was released on 1997 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Flavio M. Menezes
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (318 download)
Download or read book Existence of Equilibria in Treasury Bill Auctions written by Flavio M. Menezes and published by . This book was released on 1994 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 1244 pages
Book Rating : 4.:/5 (51 download)
Download or read book Antitrust Law Journal written by and published by . This book was released on 1986 with total page 1244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : V. Conti
Publisher : Springer Science & Business Media
ISBN 13 : 9401112088
Total Pages : 252 pages
Book Rating : 4.4/5 (11 download)
Download or read book Bond Markets, Treasury and Debt Management written by V. Conti and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until not too many years ago, the Italian government bond market, though the third largest in the world in terms of size, was characterised by numerous inefficiencies and problems regarding both policy in managing the public debt and the operation of the market. These aspects tended to isolate the Italian market from the international fmancial community and to keep large, international investors away from our market. As the situation with Italy's public finances grew worse and with financial markets being deregulated and expanding internationally, several direct measures were taken in recent years to encourage an even greater recourse to the Italian government securities market and to improve it's efficiency. Innovations in techniques for issuing government bonds, the creation of an automated trading system for Italian state securities, and the launch of a futures market in Italy, too, have all been useful measures in getting the Italian market closer to international standards. The measures adopted by economic policy authorities have often been inspired by the works developed by various study groups instituted by the treasury Ministry as well as by research coming from the academic world. Likewise, many measures aimed at improving the government bond market have been realised thanks to the important contribution of the trade associations and the main financial intermediaries operating in Italy, whose studies, suggestions and proposals have been based on operating expertise built up over decades.
Author : H. Kent Baker
Publisher : Financial Markets and Investme
ISBN 13 : 019087743X
Total Pages : 833 pages
Book Rating : 4.1/5 (98 download)
Download or read book Debt Markets and Investments written by H. Kent Baker and published by Financial Markets and Investme. This book was released on 2019-09-05 with total page 833 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debt Markets and Investments provides an overview of the dynamic world of markets, products, valuation, and analysis of fixed income and related securities. Experts in the field, practitioners and academics, offer both diverse and in-depth insights into basic concepts and their application to increasingly intricate and real-world situations. This volume spans the entire spectrum from theoretical to practical, while attempting to offer a useful balance of detailed and user-friendly coverage. The volume begins with the basics of debt markets and investments, including basic bond terminology and market sectors. Among the topics covered are the relationship between fixed income and other asset classes as well as the differences in fundamental risk. Particular emphasis is given to interest rate risk as well as credit risks as well as those associated with inflation, liquidity, reinvestment, and ESG. Authors then turn to market sectors, including government debt, municipal bonds, the markets for corporate bonds, and developments in securitized debt markets along with derivatives and private debt markets. The third section focuses on models of yield curves, interest rates, and swaps, including opportunities for arbitrage. The next two sections focus on bond and securitized products, from sovereign debt and mutual funds focused on bonds to how securitization has increased liquidity through such innovations as mortgaged-and asset- backed securities, as well as collateralized debt-, bond-, and loan obligations. Authors next discuss various methods of valuation of bonds and securities, including the use of options and derivatives. The volume concludes with discussions of how debt can play a role in financial strategies and portfolio creation. Readers interested in a broad survey will benefit as will those looking for more in-depth presentations of specific areas within this field of study. In summary, the book provides a fresh look at this intriguing and dynamic but often complex subject.
Author : R. Stafford Johnson
Publisher : John Wiley & Sons
ISBN 13 : 1405142359
Total Pages : 664 pages
Book Rating : 4.4/5 (51 download)
Download or read book Bond Evaluation, Selection, and Management written by R. Stafford Johnson and published by John Wiley & Sons. This book was released on 2009-02-09 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bond Evaluation, Selection, and Management synthesizes fundamental and advanced topics in the field, offering comprehensive coverage of bond and debt management. This text provides readers with the basics needed to understand advanced strategies, and explanations of cutting edge advanced topics. Focusing on concepts, models, and numerical examples, readers are provided with the tools they need to select, evaluate, and manage bonds. Provides a comprehensive exposition of bond and debt management. Covers both the fundamental and advanced topics in the field, including bond derivatives. Focuses on concepts, models, and numerical examples. Reinforces important concepts through review questions, web exercises, and practice problems in each chapter.
