The Economics of Treasury Securities Markets (Classic Reprint) - Couverture souple

Bikhchandani, Sushil

9781334349270: The Economics of Treasury Securities Markets (Classic Reprint)

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ISBN 10 : 1334349274 ISBN 13 : 9781334349270

Editeur : Forgotten Books, 2018

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How auction rules shape prices and government revenue.

This accessible overview explains how different Treasury auction formats and bidder information affect prices, signaling, and revenue. It links auction design to secondary market dynamics and the incentives that bidders face when bidding, signaling, or trading after the auction.

Learn how uniform-price, discriminatory, ascending-price, and descending-price auctions work in government securities.
See how bidder information and private estimates influence bids, signaling, and the risk of the winner’s curse.
Understand the role of the when-issued market and secondary trading in shaping auction outcomes.
Explore policy implications, including when truthful information sharing can improve revenues and how manipulation risks differ by format.

Ideal for readers of economics, public finance, and market design who want a clear, applied view of how auction rules affect revenue and prices.

Les informations fournies dans la section � Synopsis � peuvent faire r�f�rence � une autre �dition de ce titre.

�diteur: Forgotten Books
Date d'�dition: 2018
Langue: anglais
ISBN 10: 1334349274
ISBN 13: 9781334349270
Reliure: Broch�
Nombre de pages: 30
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The Economics of Treasury Securities Markets (Classic Reprint)

Sushil Bikhchandani, Chi-Fu Huang

Edit� par Forgotten Books, 2018

ISBN 10 : 1334349274 ISBN 13 : 9781334349270

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Vendeur : Forgotten Books, London, Royaume-Uni

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Paperback. Etat : New. Print on Demand. This insightful book explores the dynamics, implications, and evolution of Treasury securities markets, particularly focusing on the effectiveness of various auction techniques employed by the U.S. Department of Treasury. The author delves into the complexities of discriminatory, uniform-price, ascending-price, and descending-price auctions, providing a comprehensive view of their revenue-generating capabilities and susceptibility to manipulation. The text not only examines auction formats but also analyzes the impact of the when-issued market, where Treasury securities are traded before they are issued. By drawing on economic theory, empirical evidence, and historical context, the book offers both a deep understanding of Treasury auction mechanisms and practical guidance for policymakers. Its findings contribute significantly to the ongoing debate on designing optimal auction formats that balance revenue maximization with market integrity, making it an indispensable resource for economists, finance professionals, and anyone seeking to understand the intricacies of Treasury securities markets. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N� de r�f. du vendeur 9781334349270_0

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