Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - 2007
using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU … substantial increase in the anchoring of long-term inflation expectations since EMU, particularly for Italy and Spain, which since … (EMU) has
led to substantial convergence in euro area sovereign bond markets in terms of
interest rate levels …