Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - European Central Bank - 2007
substantial increase in the anchoring of long-term inflation expectations since EMU, particularly for Italy and Spain, which since …We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries … using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU …