search query: @author Repullo, R. / total: 9
reference: 3 / 9
| Author: | Ayuso, J. Repullo, R. |
| Title: | Why did the banks overbid? An empirical model of the fixed rate tenders of the European Central Bank |
| Journal: | Journal of International Money and Finance
2001 : NOV, VOL. 20:6, p. 857-870 |
| Index terms: | AUCTIONS BIDDING EUROPEAN CENTRAL BANK |
| Language: | eng |
| Abstract: | This paper tests two alternative hypotheses for the overbidding behavior of the banks in the fixed rate tenders conducted by the European Central Bank (ECB) from January 1999 until June 2000. One hypothesis attributes the overbidding to the expectations of a future tightening of monetary policy, while the other attributes it to the liquidity allotment decisions of the ECB. |
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