The 2007 / 2009 turmoil : a challenge for the integration of the euro area money market ?

@inproceedings{Cassola2010The2,
  title={The 2007 / 2009 turmoil : a challenge for the integration of the euro area money market ?},
  author={Nuno Cassola and Cornelia Holthausen and Marco Lo Duca},
  year={2010}
}
This paper studies the impact of the ongoing …nancial turmoil on crosscountry lending patterns in the euro money market, using data on overnight transactions on the e-MID money market trading system. The paper …nds that the structure of cross-border transactions in money markets has fundamentally changed in two phases: From the onset of the turmoil in August 2007, it changed from a truly integrated marekt with frequent cross border trading to a two-tier market structure in which predominantly… CONTINUE READING

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