Bond Convenience Yields in the Eurozone Currency Union
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下载链接：
https://www.nber.org/papers/w34307
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资源简介：
In a monetary union, the risk-free rate cannot adjust to country-level fiscal positions, leaving only default spreads and convenience yields to respond. Empirically, we find that convenience yields explain a large share of the variation in Eurozone sovereign bond yields. Eurozone sovereign bonds
提供机构：
美国国家经济研究局
创建时间：
2025-10-01
