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 …

, efficiency and auction stage interest rate levels and volatility. Most importantly, we ask which mechanism is the best at … comes at the cost of less revenue compared to the revenue maximizing discriminatory price auction, but surprisingly, will … not result in efficiency losses compared even to the Vickrey auction …

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 …