Buy-or-sell auctions

Detalhes bibliográficos
Autor(a) principal: Carvalho, Carlos Viana de
Data de Publicação: 2003
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/12992
Resumo: This paper develops a game theoretic model of a 'Buy-or-Sell' auction. Participants have to submit both a bid and an offer price for up to one of the many units of the good being auctioned. The bid-ask spread is set in advance by the auctioneer. Such an auction was used by the Central Bank of Brazil to intervene in the foreign exchange market during the exchange rate crawling-peg regime (1995-1999). I investigate whether such mechanism is more effective than standard intervention auctions to prevent speculative attacks in the context of managed exchange rate regimes.
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spelling Carvalho, Carlos Viana deEscolas::EPGEFGV2014-12-23T14:21:23Z2014-12-23T14:21:23Z2003-08-19http://hdl.handle.net/10438/12992This paper develops a game theoretic model of a 'Buy-or-Sell' auction. Participants have to submit both a bid and an offer price for up to one of the many units of the good being auctioned. The bid-ask spread is set in advance by the auctioneer. Such an auction was used by the Central Bank of Brazil to intervene in the foreign exchange market during the exchange rate crawling-peg regime (1995-1999). I investigate whether such mechanism is more effective than standard intervention auctions to prevent speculative attacks in the context of managed exchange rate regimes.engFundação Getulio Vargas. Escola de Pós-graduação em EconomiaSeminários de Almoço da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessBuy-or-sell auctionsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaLeilõesreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL000321245_c331b.pdf000321245_c331b.pdfapplication/pdf856198https://repositorio.fgv.br/bitstreams/3c3c8628-ff44-4e2e-9897-6b691b343006/download6efda0e196ba1e9e79b51d9a395ac3faMD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/e833463f-4290-4574-b00d-50d3e21d5dad/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT000321245_c331b.pdf.txt000321245_c331b.pdf.txtExtracted 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dc.title.eng.fl_str_mv Buy-or-sell auctions
title Buy-or-sell auctions
spellingShingle Buy-or-sell auctions
Carvalho, Carlos Viana de
Economia
Leilões
title_short Buy-or-sell auctions
title_full Buy-or-sell auctions
title_fullStr Buy-or-sell auctions
title_full_unstemmed Buy-or-sell auctions
title_sort Buy-or-sell auctions
author Carvalho, Carlos Viana de
author_facet Carvalho, Carlos Viana de
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Carvalho, Carlos Viana de
dc.subject.area.por.fl_str_mv Economia
topic Economia
Leilões
dc.subject.bibliodata.por.fl_str_mv Leilões
description This paper develops a game theoretic model of a 'Buy-or-Sell' auction. Participants have to submit both a bid and an offer price for up to one of the many units of the good being auctioned. The bid-ask spread is set in advance by the auctioneer. Such an auction was used by the Central Bank of Brazil to intervene in the foreign exchange market during the exchange rate crawling-peg regime (1995-1999). I investigate whether such mechanism is more effective than standard intervention auctions to prevent speculative attacks in the context of managed exchange rate regimes.
publishDate 2003
dc.date.issued.fl_str_mv 2003-08-19
dc.date.accessioned.fl_str_mv 2014-12-23T14:21:23Z
dc.date.available.fl_str_mv 2014-12-23T14:21:23Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/12992
url http://hdl.handle.net/10438/12992
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Seminários de Almoço da EPGE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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