Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - 2007
) has led to substantial convergence in euro area sovereign bond markets in terms of interest rate levels, unconditional … (EMU) has
led to substantial convergence in euro area sovereign bond markets in terms of
interest rate levels … frequencies, it is more likely that
some degree of cross-country arbitrage will reduce interest rate differentials across those …