possible to uncover with access to the whole distribution and significant size of the offered amounts at each auction. Moreover … with changes in market yields for an extended period after the auction suggesting that purchase operations have a more …

financial markets. Three of these temporary programs relied on an auction mechanism: the Term Auction Facility, the Term …

Treasuries all over the world sell sovereign bonds through an auction which is typically conducted by the central bank … auction. We find that average bid shading increases substantially during this period leading to a big loss to the exchequer. A … mechanisms − uniform price auction and a fixed price tender. We find that switching the pricing rule to uniform does not reduce …

This study provides new evidence on the relationship between unconventional monetary policy and auction cycles in the … public debt auctions. The findings indicate that Eurosystem's asset purchase flows mitigate yield cycles during auction … auction cycles is more sizeable and precisely estimated for purchases of securities with medium-term maturities and in …

financial markets. Three of these temporary programs relied on an auction mechanism: the Term Auction Facility, the Term …