How to Sell Public Debt in Uncertain Times
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https://www.nber.org/papers/w33616
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资源简介：
How should governments structure primary sovereign bond markets when investors face asymmetric uncertainty about default risk and total demand? Standard protocols either use uniform prices for all investors, or price discriminate based on bid prices (pay as bid). Uniform pricing encourages more
提供机构：
美国国家经济研究局
创建时间：
2025-03-01
