The Microstructure of Government Securities Markets

Peter Dattels

No 1995/117, IMF Working Papers from International Monetary Fund

Abstract: This paper applies the “market microstructure” literature to the specific features of government securities markets and draws implications for the strategy to develop government securities markets. It argues for an active role of the authorities in fostering the development of efficient market structures.

Keywords: WP; dealer market; central bank; debt management; government securities market; auction-agency market; order flow; price discovery; discount house; market participant; OTC dealer market; functioning dealer market; market development; equilibrium price; competing dealer market structure; dealer broker; Government securities; Brokers and dealers; Securities markets; Securities; Treasury bills and bonds (search for similar items in EconPapers)
Pages: 90
Date: 1995-11-01
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1995/117

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