Please use this identifier to cite or link to this item: http://hdl.handle.net/2445/107190
Title: The immediate effect of monetary union on EU-15 sovereign debt yield spreads
Author: Gómez-Puig, Marta
Keywords: Unions monetàries
Mercat financer
Risc (Economia)
Deute
Països de la Unió Europea
Monetary unions
Financial market
Risk
Debt
European Union countries
Issue Date: 2009
Publisher: Taylor and Francis
Abstract: Yield spreads (corrected for exchange rate risk) over 10-year German securities of European Union (EU) countries that did not join Economic and Monetary Union (EMU) experienced an average decrease of 14.20 basis points during the first 3 years after the beginning of Currency Union. Conversely, Euro-area countries' adjusted spreads registered an average rise of 11.98 basis points in the same period. This article examines the elements (a possible change in the relative importance of domestic or international risk factors) behind these results using both panel estimations in the two groups of countries and a country-by-country specification in each of them.
Note: Versió postprint del document publicat a: https://doi.org/10.1080/00036840802345584
It is part of: Applied Economics, 2009, vol. 41, num. 7, p. 929-939
Related resource: https://doi.org/10.1080/00036840802345584
URI: http://hdl.handle.net/2445/107190
ISSN: 0003-6846
Appears in Collections:Articles publicats en revistes (Economia)

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