Cassola, Nuno; Morana, Claudio - 2008
-prime credit crisis on the euro money market during the second half of 2007. This is done in two steps. Firstly, the long …, euro area commercial banks started paying a premium to participate in the ECB liquidity auctions. This puzzling phenomenon …Working PaPer SerieS
MoDelling Short-terM
intereSt rate SPreaDS
in the euro Money
Market
by Nuno Cassola
and …