Ewerhart, Christian; Cassola, Nuno; Valla, Natacha - In: Journal of Banking & Finance 36 (2012) 2, pp. 539-549
The fixed rate tender is one of the main procedures used by central banks in the implementation of their monetary policies. While academic research has largely dismissed the procedure owing to its tendency to encourage overbidding, central banks such as the ECB and the Bank of England have...