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We examine the bilateral composition of international bond portfolios for the euro area and the individual EMU member … countries. We find considerable support for “euro area bias”: EMU member countries disproportionately invest in one another … linkages in explaining asymmetries across EMU member countries in terms of their outward and inward bond investments vis …
Persistent link: https://www.econbiz.de/10011604599
have converged at faster rate than those of NON EMU countries. This outcome can be interpreted as a combination of the … significantly increased after EMU inception, pointing toward an exclusive role for convergence in investment barriers. …
Persistent link: https://www.econbiz.de/10011345434
In this paper, we present a set of specific measures to quantify the state and evolution of financial integration in the euro area. Five key markets are considered, namely the money, corporate bond, government bond, credit and equity markets. Building upon the law of one price, we developed two...
Persistent link: https://www.econbiz.de/10011606166
have converged at faster rate than those of NON EMU countries. This outcome can be interpreted as a combination of the … significantly increased after EMU inception, pointing toward an exclusive role for convergence in investment barriers. …
Persistent link: https://www.econbiz.de/10011373515
Persistent link: https://www.econbiz.de/10010509225
Persistent link: https://www.econbiz.de/10009633887
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union. It discusses experience since the inception of EMU, based in part on research with a Dynamic Stochastic General … increases in financial integration, have played a larger role than anticipated when EMU was created. Drawing on this experience …
Persistent link: https://www.econbiz.de/10010883277
groups, financial integration contributed to explain CA deterioration in the peripheral countries especially in the post-EMU …
Persistent link: https://www.econbiz.de/10011271358
have negatively influenced the CA balance in the peripheral countries especially in the post EMU period. …
Persistent link: https://www.econbiz.de/10010837106