Bidding Behavior in Treasury Bill Auctions : Evidence From Pakistan.

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...

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Détails bibliographiques
Collectivité auteur: International Monetary Fund
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2000.
Collection:IMF Working Papers; Working Paper ; No. 2000/111
Accès en ligne:Full text available on IMF