Schuknecht, Ludger (contributor); … - 2008
introduction of the euro. Using data for bond yield spreads relative to an appropriate benchmark, for the period 1991-2005, we find … deficits. This is consistent with the notion of market-imposed fiscal discipline. We find that German states and, among them … the introduction of the euro and are more likely to be interpreted as liquidity premiums. We also estimate empirical …
