01647cas a2200241 a 4500 AALejournalIMF000181 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855449 1018-5941 BD-DhAAL BD-DhAAL Zettelmeyer, Jeromin. EMU and Long Interest Rates in Germany / Jeromin Zettelmeyer. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The presence of an 'EMU premium' in German long rates is tested by examining the co-movement of German and other European yields, as well as the exchange rate of the private ECU, in reaction to EMU-related events. If German yields incorporate an 'EMU premium' while other European currencies expect lower interest rates from EMU, then German and other European long yields should react in opposite directions to events affecting the probability of EMU. In fact, they typically react in the same direction. Similarly, events which lead to an appreciation of the private ECU are associated with a decline in German yields. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1996/133 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/133/001.1996.issue-133-en.xml IMF e-Library