Cassola, Nuno; Morana, Claudio - 2008
4
Non-technical summary 5
1 Introduction 6
2 The economics of short-term interest rate
spreads in the euro area 9
3 …
advance: they depend on the business cycle and on the monetary policy
“rule” followed by the ECB. However, from a very short … on the other money market rates.
The remainder of the paper is structured as follows. Section 2 presents
the economics of …