| Author: | Simon, D. |
| Title: | The treasury's experiment with single-price auctions in the mid-1970s: winner's or taxpayer's curse? |
| Journal: | Review of Economics and Statistics
1994 : NOV, VOL.76:4, p. 754-760 |
| Index terms: | ECONOMICS TAXATION PRICES |
| Language: | eng |
| Abstract: | This study examines the Treasury's experiment with single-price bond auctions in the mid-1970s and finds that controlling for factors unrelated to auction technique, markups of auction average rates over when-issued rates shortly after auctions were a statistically significant seven to eight basis points higher at single-price auctions than at discriminating-price auctions. |
SCIMA