PL EN


2007 | 18 | 10(194) | 85-107
Article title

THE FORMS OF AUCTIONING TREASURY SECURITIES

Authors
Selected contents from this journal
Title variants
Languages of publication
PL
Abstracts
EN
The article discusses methods used in auctioning Treasury securities in Poland. Treasury auctions are widely used by authorities responsible for the management of public debt. The authors of the paper set out to identify auction mechanisms that maximize the expected income of the seller. The paper shows the effects of the single- and multiple-price auction systems in Poland. The authors use a research method developed by G.R. Kim, S. Oh and K. Ryu. They conclude that the single-price auction system is safer for the issuer because revenue from single-price auctions is in most cases higher than that generated from multiple-price auction systems. At the same time, due to imperfect research methods, especially in estimating the issuer's revenue from a single-price auction system, further in-depth studies are needed into methods for carrying out auctions for T-securities in Poland..
Year
Volume
18
Issue
Pages
85-107
Physical description
Document type
ARTICLE
Contributors
author
author
  • A. Babczuk, Akademia Ekonomiczna we Wroclawiu, Katedra Finansów i Rachunkowosci, ul. Komandorska 118/120, 53-345 Wroclaw, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
07PLAAAA03256740
YADDA identifier
bwmeta1.element.6073ea73-2ef4-35da-a849-af036890a2d4
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