Yield Differentials in the Future EMU
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| Author(s): | From, Bertil |
| Subject: | Financial markets and financial stability; Central-government finances and debt; EU, Euro and ECB; Financial markets; Central-government debt in general; EMU and the euro in general |
| Type: | Monetary Review, May 1997, page 13-20 |
| Year of publication: | 1997 |
| Date of publication: | 05/30/1997 |
Identical yields on government bonds issued by the individual member states participating in the third stage of EMU cannot be expected. Using the Canadian provinces as a case study it is evaluated that the differences in credit-risk assessment in particular will lead to differentials, albeit moderate, between long-term yields in the participating member states.
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