Pagano, Marco; von Thadden, Ernst-Ludwig - C.E.P.R. Discussion Papers - 2004
In this Paper, we document how in the wake of monetary unification the markets for euro area sovereign and private …-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the euro area bond market as a … EMU. The persistence of small and variable yield differentials for sovereign debt under EMU indicates that euro area bonds …