Préget, Raphaële; Waelbroeck, Patrick - In: Revue économique 53 (2002) 3, pp. 403-414
This empirical study analyzes market bid functions observed in French Treasury Bills auctions. We use data from 125 discriminatory auctions of 1995 to determine the factors that affect the shape of the aggregate demand functions. We proceed in two steps. In the first step, we estimate demand...