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Rheinische Friedrich-Wilhelms-Universität Bonn >
Bonn Graduate School of Economics (BGSE), Universität Bonn >
Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/22860
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Nautz, Dieter | | en_US |
| dc.contributor.author | | Oechssler, Jörg | | en_US |
| dc.date.accessioned | | 2009-01-29T15:10:27Z | | - |
| dc.date.available | | 2009-01-29T15:10:27Z | | - |
| dc.date.issued | | 2003 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/22860 | | - |
| dc.description.abstract | | This paper investigates various theories explaining banks' overbid- ding in the fixed rate tenders of the European Central Bank (ECB). Using auction data from both the Bundesbank and the ECB, we show that none of the theories can on its own explain the observed overbid- ding. This implies that the proposed new rules by the ECB, aimed at neutralizing interest rate expectations, would not eliminate overbid- ding if the rationing rule in the fixed rate tenders remains unchanged. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | | | en_US |
| dc.relation.ispartofseries | | Bonn econ discussion papers 2003,1 | | en_US |
| dc.subject.jel | | D44 | | en_US |
| dc.subject.jel | | E32 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Overbidding | | en_US |
| dc.subject.keyword | | repo auctions | | en_US |
| dc.subject.keyword | | monetary policy instruments of the European Central Bank | | en_US |
| dc.subject.stw | | Pensionsgeschäft | | en_US |
| dc.subject.stw | | Zins | | en_US |
| dc.subject.stw | | Bank | | en_US |
| dc.subject.stw | | Auktionstheorie | | en_US |
| dc.subject.stw | | Europäische Wirtschafts- und Währungsunion | | en_US |
| dc.subject.stw | | EU-Staaten | | en_US |
| dc.subject.stw | | Zinstender | | en_US |
| dc.title | | Overbidding in fixed rate tenders - an empirical assessment of alternative explanations | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 382887840 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn
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