Bernoth, Kerstin; Hagen, Jürgen von; Schuknecht, Ludger - 2004
. Interest differentials between bonds issued by
EU countries and Germany or the USA contain risk premia which increase with
the … affects bond yield spreads between EU countries and
Germany/USA. The start of the European Monetary Union had significant … Germany or the
USA are affected by international risk factors and reflect positive default and liquidity
risk premia. The …