We develop a model where government bond are marketed at a pre-set price and show that equilibrium sequences with demand rationing are associated with higher interest costs than under competition.
Marketing of Public Debt: The Fixed Price Technique / Bertocchi, Graziella. - In: FINNISH ECONOMIC PAPERS. - ISSN 0784-5197. - STAMPA. - 6:(1993), pp. 79-88.
Marketing of Public Debt: The Fixed Price Technique
BERTOCCHI, Graziella
1993
Abstract
We develop a model where government bond are marketed at a pre-set price and show that equilibrium sequences with demand rationing are associated with higher interest costs than under competition.
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