Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5059884 | Economics Letters | 2012 | 4 Pages |
Abstract
⺠An unobserved factor drives the co-movement of government debt in the euro area. ⺠The factor captures the impact of the Maastricht Treaty. ⺠The factor also reflects the influence of the euro and the ongoing crisis. ⺠The old-age dependency ratio and the US long-term interest rate explain the factor.
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Authors
Huiran Pan, Chun Wang,