While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy … perspective, to what extent do movements in euro area sovereign spreads reflect country-specific solvency concerns? In line with … previous studies, the paper suggests that euro area sovereign risk premium differentials tend to comove over time and are …

increasingly integrated into the euro-zone area and that has a strong macroeconomic track record. We illustrate that neither the …

SJAASTAD MODEL -- IV. DATA -- V. ESTIMATION RESULTS -- VI. EUROPEAN ECONOMIES BEFORE AND AFTER THE INTRODUCTION OF THE EURO …