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RBA Glossary definition for bid

bid – The price offered to purchase securities in the primary market. In relation to a tender, a bid also includes the volume willing to be bought at the price offered.

Search Results

Asymmetric Information and Bid-ask Spreads in the Eurocurrency Markets

1 Oct 1987 RDP 8707
Malcolm L. Edey
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1987/8707.html

Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets

1 Oct 1987 RDP 8707
Malcolm L. Edey
Research Discussion Paper – RDP 8707 Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets.
https://www.rba.gov.au/publications/rdp/1987/8707/

The Model

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets 2. ... return. Suppose instead that the dealer sets separate bid and ask prices (B and A respectively).
https://www.rba.gov.au/publications/rdp/1987/8707/the-model.html

References

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets References. ... Galai “Information Effects on the Bid-Ask Spread”,. Journal of Finance. , 1983, 38: 1457–1469.
https://www.rba.gov.au/publications/rdp/1987/8707/references.html

Introduction

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets 1. ... The optimal bid and ask prices of a security dealer have been studied by a number of writers.
https://www.rba.gov.au/publications/rdp/1987/8707/introduction.html

Conclusions

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets 6. ... The method was to test the significance of variables measuring bid-ask spreads as predictors of the mean and variance of future exchange rates.
https://www.rba.gov.au/publications/rdp/1987/8707/conclusions.html

Equilibrium

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets 3. ... so that bid and ask prices are set symmetrically about the dealer's conditional mean.
https://www.rba.gov.au/publications/rdp/1987/8707/equilibrium.html

Appendix 2 Proof of Proposition 2

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets Appendix 2 Proof of Proposition 2.
https://www.rba.gov.au/publications/rdp/1987/8707/appendix-2.html

Appendix 1 Properties of the Function g(h)

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets Appendix 1 Properties of the Function g(h).
https://www.rba.gov.au/publications/rdp/1987/8707/appendix-1.html

A Numerical Example

1 Oct 1987 RDP 8707
Malcolm L Edey
RDP 8707: Asymmetric Information and Bid-Ask Spreads in the Eurocurrency Markets 4.
https://www.rba.gov.au/publications/rdp/1987/8707/a-numerical-example.html