Treasury Bill Auctions: Issues and Uses

Carlo Cottarelli and Leonardo Bartolini

No 1994/135, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; treasury bill auction; uniform-price auction; discount format; auction price; open-outcry auction; auction format; government securities auction; second-price auction; standing auction rule; auction theory; Treasury bills and bonds; Government securities; Securities (search for similar items in EconPapers)
Pages: 70
Date: 1994-11-01
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Citations: View citations in EconPapers (14)

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