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The IMF Working Papers series is designed to make IMF staff research available to a wide...

This paper evaluates the importance of auction format on bidding behavior and seller revenue,...

We review the main issues that arise in the design of treasury bill auctions and survey the...

This paper assesses alternative auction techniques for pricing and allocating various financial...

This paper studies the participation and performance of sophisticated versus unsophisticated...

Behavior in the first three years of auctions for Pakistani treasury bills is studied. Bidding...