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Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/63553
EU-15 sovereign governments’ cost of borrowing after seven years of monetary union
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Yield spreads over 10-year German government securities of the EU-15 countries converged dramatically in the seven years after the beginning of Monetary Integration. In this paper, we investigate the relative influence of systemic and idiosyncratic risk factors on their behaviour. Our conclusions suggest that in EMU-countries the relative importance of domestic risk factors (both credit and liquidity risk factors) is higher than that of international factors, which appear to play a secondary but significant role in non-EMU countries.
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GÓMEZ-PUIG, Marta. EU-15 sovereign governments’ cost of borrowing after seven years of monetary union. IREA – Working Papers. 2007. Vol. IR07/11. ISSN 2014-1254. [consulted: 6 of October of 2026]. Available at: https://hdl.handle.net/2445/63553