[...]This article provides the first detailed intraday analysis of the round-the-clock market for U.S. Treasurysecurities. The analysis, covering the period from April 4to August 19, 1994, uses comprehensive data on tradingactivity among the primary government securities dealers.Trading volume,...

This paper explores the complexities of government financial management in China andexamines the nature of the recent Public Finance Framework reform in that country. Weargue that this Public Finance Framework reform is not just the latest idea in a centrallydominated reform agenda (and a...