• 1 Introduction
  • 2 Empirical approach
  • 3 Results
  • 3.1 Main findings
  • 3.2 The role of the exchange rate
  • 3.3 German Länder
  • 3.4 Robustness
  • 4 Conclusions
  • References
  • A Main appendix
  • A.1 Figures
  • B Interest rate parity and bond market integration
  • C Robustness check: OLS regressions
  • C.1 Main results
  • C.2 Further robustness checks