Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - Federal Reserve Bank of San Francisco - 2007
using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU … monetary union have seen their long-term interest rates become much lower, much less volatile, and much better anchored in …, Denmark, and Sweden. We find that Economic and Monetary
Union (EMU) has led to substantial convergence in euro area …