Are Eurozone Fixed Income Markets Integrated? An Analysis Based on Wavelet Multiple Correlation and Cross Correlation

Table 1

Descriptive statistics of Eurozone long term interest rates.

	Germany	France	Belgium	Spain	Finland	Austria	Greece	Ireland	Portugal	Netherlands	Italy
Mean	3.63	3.91	4.12	4.44	3.84	3.96	7.18	5.08	5.37	3.82	4.55
Median	3.82	3.95	4.13	4.25	3.94	4.03	4.79	4.59	4.48	3.93	4.45
Maximum	5.17	5.26	5.38	6.79	5.41	5.37	29.24	12.45	13.85	5.3	7.06
Minimum	1.24	2.12	2.54	3.09	1.55	1.97	3.3	3.04	3.19	1.75	3.29
Std. Dev.	0.91	0.68	0.6	0.74	0.84	0.73	5.77	1.72	2.44	0.81	0.68
Skewness	−0.7	−0.11	0.06	0.75	−0.49	−0.25	2.24	1.94	2.03	−0.49	0.88
Kurtosis	3.07	2.69	2.87	3.35	3.07	2.98	7.17	6.88	6.01	2.94	4.21
Jarque-Bera	11.68	0.87	0.19	13.91	5.89	1.48	221.1	178.1	150.6	5.87	27.11
value	0	0.64	0.9	0	0.05	0.47	0	0	0	0.05	0