Bond market contagion permanently increased in Emu, says Czech paper

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A working paper, published by the Czech National Bank on October 8, analyses the contagion in sovereign bond markets in Europe, and the relationship it has with credit rating agencies.

The authors, Peter Claeys and Bořek Vašíček, find that spillovers have increased "substantially and permanently" since 2007, and are now more important than domestic factors for all European Monetary Union countries due to the importance of a common factor as well as bilateral linkages.

The research also shows

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