Étude empirique de la demande dans les enchères de bons du Trésor

Raphaële Préget () and Patrick Waelbroeck

Revue économique, 2002, vol. 53, issue 3, 403-414

Abstract: This empirical study analyzes market bid functions observed in French Treasury Bills auctions. We use data from 125 discriminatory auctions of 1995 to determine the factors that affect the shape of the aggregate demand functions. We proceed in two steps. In the first step, we estimate demand curves by logistic functions. In the second step, we determine the variables that explain the fluctuations of the values of the parameters across auctions. Our results offer a forecasting tool for incoming auctions. Classification JEL : C31, C51, D44, G18

JEL-codes: C31 C51 D44 G18 (search for similar items in EconPapers)
Date: 2002
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Related works:
Journal Article: Etude empirique de la demande dans les enchères de bons du Trésor (2002)
Working Paper: Étude empirique de la demande dans les enchères de bons du Trésor (2002)
Working Paper: Étude empirique de la demande dans les enchères de bons du Trésor (2002)
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