id	sid	tid	token	lemma	pos
dem-11858	1	1	2016	2016	NUM
dem-11858	1	2	nicolaus	nicolaus	PROPN
dem-11858	1	3	copernicus	copernicus	PROPN
dem-11858	1	4	university	university	PROPN
dem-11858	1	5	.	.	PUNCT
dem-11858	2	1	all	all	DET
dem-11858	2	2	rights	right	NOUN
dem-11858	2	3	reserved	reserve	VERB
dem-11858	2	4	.	.	PUNCT
dem-11858	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-11858	4	1	d	d	PUNCT
dem-11858	4	2	y	y	PROPN
dem-11858	4	3	n	n	PROPN
dem-11858	4	4	a	a	PRON
dem-11858	4	5	m	m	VERB
dem-11858	5	1	i	i	NOUN
dem-11858	5	2	c	c	NOUN
dem-11858	5	3	e	e	NOUN
dem-11858	5	4	c	c	NOUN
dem-11858	5	5	o	o	X
dem-11858	6	1	n	n	INTJ
dem-11858	6	2	o	o	NOUN
dem-11858	6	3	m	m	VERB
dem-11858	7	1	e	e	NOUN
dem-11858	7	2	t	t	NOUN
dem-11858	7	3	r	r	NOUN
dem-11858	7	4	i	i	NOUN
dem-11858	7	5	c	c	NOUN
dem-11858	7	6	m	m	VERB
dem-11858	7	7	o	o	NOUN
dem-11858	7	8	d	d	X
dem-11858	7	9	e	e	X
dem-11858	7	10	l	l	NOUN
dem-11858	7	11	s	s	X
dem-11858	7	12	doi	doi	NOUN
dem-11858	7	13	:	:	PUNCT
dem-11858	7	14	http://dx.doi.org/10.12775/dem.2016.010	http://dx.doi.org/10.12775/dem.2016.010	NOUN
dem-11858	7	15	vol	vol	NOUN
dem-11858	7	16	.	.	PUNCT
dem-11858	8	1	16	16	NUM
dem-11858	8	2	(	(	PUNCT
dem-11858	8	3	2016	2016	NUM
dem-11858	8	4	)	)	PUNCT
dem-11858	9	1	165−187	165−187	NUM
dem-11858	9	2	submitted	submit	VERB
dem-11858	9	3	november	november	PROPN
dem-11858	9	4	30	30	NUM
dem-11858	9	5	,	,	PUNCT
dem-11858	9	6	2016	2016	NUM
dem-11858	9	7	issn	issn	X
dem-11858	9	8	(	(	PUNCT
dem-11858	9	9	online	online	ADJ
dem-11858	9	10	)	)	PUNCT
dem-11858	9	11	2450	2450	NUM
dem-11858	9	12	-	-	SYM
dem-11858	9	13	7067	7067	NUM
dem-11858	9	14	accepted	accept	VERB
dem-11858	9	15	december	december	PROPN
dem-11858	9	16	28	28	NUM
dem-11858	9	17	,	,	PUNCT
dem-11858	9	18	2016	2016	NUM
dem-11858	9	19	issn	issn	PROPN
dem-11858	9	20	(	(	PUNCT
dem-11858	9	21	print	print	NOUN
dem-11858	9	22	)	)	PUNCT
dem-11858	9	23	1234	1234	NUM
dem-11858	9	24	-	-	SYM
dem-11858	9	25	3862	3862	NUM
dem-11858	9	26	elżbieta	elżbieta	PROPN
dem-11858	9	27	szulc	szulc	PROPN
dem-11858	9	28	*	*	PROPN
dem-11858	9	29	,	,	PUNCT
dem-11858	9	30	dagna	dagna	VERB
dem-11858	9	31	wleklińska	wleklińska	NOUN
dem-11858	9	32	,	,	PUNCT
dem-11858	9	33	karolina	karolina	PROPN
dem-11858	9	34	górna	górna	VERB
dem-11858	9	35	the	the	DET
dem-11858	9	36	share	share	NOUN
dem-11858	9	37	of	of	ADP
dem-11858	9	38	european	european	ADJ
dem-11858	9	39	economies	economy	NOUN
dem-11858	9	40	in	in	ADP
dem-11858	9	41	the	the	DET
dem-11858	9	42	process	process	NOUN
dem-11858	9	43	of	of	ADP
dem-11858	9	44	convergence	convergence	NOUN
dem-11858	9	45	of	of	ADP
dem-11858	9	46	long	long	ADJ
dem-11858	9	47	-	-	PUNCT
dem-11858	9	48	term	term	NOUN
dem-11858	9	49	interest	interest	NOUN
dem-11858	9	50	rates	rate	NOUN
dem-11858	9	51	in	in	ADP
dem-11858	9	52	the	the	DET
dem-11858	9	53	eu	eu	PROPN
dem-11858	9	54	in	in	ADP
dem-11858	9	55	the	the	DET
dem-11858	9	56	period	period	NOUN
dem-11858	9	57	of	of	ADP
dem-11858	9	58	2006–2016	2006–2016	NUM
dem-11858	9	59	a	a	DET
dem-11858	9	60	b	b	PROPN
dem-11858	9	61	s	s	ADP
dem-11858	9	62	t	t	PROPN
dem-11858	9	63	r	r	NOUN
dem-11858	9	64	a	a	DET
dem-11858	9	65	c	c	NOUN
dem-11858	9	66	t.	t.	NOUN
dem-11858	9	67	the	the	DET
dem-11858	9	68	paper	paper	NOUN
dem-11858	9	69	refers	refer	VERB
dem-11858	9	70	to	to	ADP
dem-11858	9	71	convergence	convergence	NOUN
dem-11858	9	72	of	of	ADP
dem-11858	9	73	interest	interest	NOUN
dem-11858	9	74	rates	rate	NOUN
dem-11858	9	75	of	of	ADP
dem-11858	9	76	ten	ten	NUM
dem-11858	9	77	-	-	PUNCT
dem-11858	9	78	year	year	NOUN
dem-11858	9	79	government	government	NOUN
dem-11858	9	80	bonds	bond	NOUN
dem-11858	9	81	emitted	emit	VERB
dem-11858	9	82	by	by	ADP
dem-11858	9	83	eu	eu	PROPN
dem-11858	9	84	countries	country	NOUN
dem-11858	9	85	.	.	PUNCT
dem-11858	10	1	it	it	PRON
dem-11858	10	2	is	be	AUX
dem-11858	10	3	an	an	DET
dem-11858	10	4	attempt	attempt	NOUN
dem-11858	10	5	to	to	PART
dem-11858	10	6	assess	assess	VERB
dem-11858	10	7	the	the	DET
dem-11858	10	8	participation	participation	NOUN
dem-11858	10	9	of	of	ADP
dem-11858	10	10	particular	particular	ADJ
dem-11858	10	11	economies	economy	NOUN
dem-11858	10	12	in	in	ADP
dem-11858	10	13	this	this	DET
dem-11858	10	14	process	process	NOUN
dem-11858	10	15	using	use	VERB
dem-11858	10	16	the	the	DET
dem-11858	10	17	so	so	ADV
dem-11858	10	18	-	-	PUNCT
dem-11858	10	19	called	call	VERB
dem-11858	10	20	vertical	vertical	ADJ
dem-11858	10	21	convergence	convergence	NOUN
dem-11858	10	22	.	.	PUNCT
dem-11858	11	1	the	the	DET
dem-11858	11	2	primary	primary	ADJ
dem-11858	11	3	tools	tool	NOUN
dem-11858	11	4	of	of	ADP
dem-11858	11	5	analysis	analysis	NOUN
dem-11858	11	6	were	be	AUX
dem-11858	11	7	panel	panel	NOUN
dem-11858	11	8	data	datum	NOUN
dem-11858	11	9	models	model	NOUN
dem-11858	11	10	with	with	ADP
dem-11858	11	11	fixed	fix	VERB
dem-11858	11	12	effects	effect	NOUN
dem-11858	11	13	,	,	PUNCT
dem-11858	11	14	including	include	VERB
dem-11858	11	15	models	model	NOUN
dem-11858	11	16	that	that	PRON
dem-11858	11	17	consider	consider	VERB
dem-11858	11	18	the	the	DET
dem-11858	11	19	links	link	NOUN
dem-11858	11	20	among	among	ADP
dem-11858	11	21	economies	economy	NOUN
dem-11858	11	22	,	,	PUNCT
dem-11858	11	23	quantified	quantify	VERB
dem-11858	11	24	by	by	ADP
dem-11858	11	25	using	use	VERB
dem-11858	11	26	a	a	DET
dem-11858	11	27	distance	distance	NOUN
dem-11858	11	28	matrix	matrix	NOUN
dem-11858	11	29	between	between	ADP
dem-11858	11	30	indicators	indicator	NOUN
dem-11858	11	31	of	of	ADP
dem-11858	11	32	fiscal	fiscal	ADJ
dem-11858	11	33	stability	stability	NOUN
dem-11858	11	34	comprehended	comprehend	VERB
dem-11858	11	35	as	as	ADP
dem-11858	11	36	the	the	DET
dem-11858	11	37	share	share	NOUN
dem-11858	11	38	of	of	ADP
dem-11858	11	39	public	public	ADJ
dem-11858	11	40	debt	debt	NOUN
dem-11858	11	41	in	in	ADP
dem-11858	11	42	gdp	gdp	PROPN
dem-11858	11	43	.	.	PUNCT
dem-11858	12	1	the	the	DET
dem-11858	12	2	analysis	analysis	NOUN
dem-11858	12	3	was	be	AUX
dem-11858	12	4	conducted	conduct	VERB
dem-11858	12	5	for	for	ADP
dem-11858	12	6	the	the	DET
dem-11858	12	7	27	27	NUM
dem-11858	12	8	members	member	NOUN
dem-11858	12	9	of	of	ADP
dem-11858	12	10	the	the	DET
dem-11858	12	11	eu	eu	PROPN
dem-11858	12	12	in	in	ADP
dem-11858	12	13	the	the	DET
dem-11858	12	14	period	period	NOUN
dem-11858	12	15	between	between	ADP
dem-11858	12	16	january	january	PROPN
dem-11858	12	17	2006	2006	NUM
dem-11858	12	18	and	and	CCONJ
dem-11858	12	19	november	november	PROPN
dem-11858	12	20	2016	2016	NUM
dem-11858	12	21	.	.	PUNCT
dem-11858	13	1	k	k	PROPN
dem-11858	13	2	e	e	PROPN
dem-11858	13	3	y	y	PROPN
dem-11858	13	4	w	w	NOUN
dem-11858	13	5	o	o	NOUN
dem-11858	13	6	r	r	NOUN
dem-11858	13	7	d	d	NOUN
dem-11858	13	8	s	s	NOUN
dem-11858	13	9	:	:	PUNCT
dem-11858	13	10	long	long	ADJ
dem-11858	13	11	term	term	NOUN
dem-11858	13	12	interest	interest	NOUN
dem-11858	13	13	rates	rate	NOUN
dem-11858	13	14	;	;	PUNCT
dem-11858	13	15	process	process	NOUN
dem-11858	13	16	of	of	ADP
dem-11858	13	17	convergence	convergence	NOUN
dem-11858	13	18	;	;	PUNCT
dem-11858	13	19	fiscal	fiscal	ADJ
dem-11858	13	20	stability	stability	NOUN
dem-11858	13	21	;	;	PUNCT
dem-11858	13	22	panel	panel	NOUN
dem-11858	13	23	data	datum	NOUN
dem-11858	13	24	models	model	NOUN
dem-11858	13	25	;	;	PUNCT
dem-11858	13	26	matrix	matrix	NOUN
dem-11858	13	27	of	of	ADP
dem-11858	13	28	economic	economic	ADJ
dem-11858	13	29	connections	connection	NOUN
dem-11858	13	30	.	.	PUNCT
dem-11858	14	1	j	j	PROPN
dem-11858	14	2	e	e	PROPN
dem-11858	14	3	l	l	PROPN
dem-11858	14	4	classification	classification	NOUN
dem-11858	14	5	:	:	PUNCT
dem-11858	14	6	c10	c10	PROPN
dem-11858	14	7	;	;	PUNCT
dem-11858	14	8	c23	c23	PROPN
dem-11858	14	9	;	;	PUNCT
dem-11858	14	10	c58	c58	PROPN
dem-11858	14	11	;	;	PUNCT
dem-11858	14	12	e43	e43	NOUN
dem-11858	14	13	.	.	PUNCT
dem-11858	15	1	introduction	introduction	NOUN
dem-11858	15	2	according	accord	VERB
dem-11858	15	3	to	to	ADP
dem-11858	15	4	the	the	DET
dem-11858	15	5	concept	concept	NOUN
dem-11858	15	6	of	of	ADP
dem-11858	15	7	fiscal	fiscal	ADJ
dem-11858	15	8	stability	stability	NOUN
dem-11858	15	9	,	,	PUNCT
dem-11858	15	10	the	the	DET
dem-11858	15	11	value	value	NOUN
dem-11858	15	12	of	of	ADP
dem-11858	15	13	public	public	ADJ
dem-11858	15	14	debt	debt	NOUN
dem-11858	15	15	should	should	AUX
dem-11858	15	16	be	be	AUX
dem-11858	15	17	maintained	maintain	VERB
dem-11858	15	18	at	at	ADP
dem-11858	15	19	the	the	DET
dem-11858	15	20	level	level	NOUN
dem-11858	15	21	that	that	PRON
dem-11858	15	22	will	will	AUX
dem-11858	15	23	provide	provide	VERB
dem-11858	15	24	the	the	DET
dem-11858	15	25	opportunity	opportunity	NOUN
dem-11858	15	26	to	to	PART
dem-11858	15	27	minimise	minimise	VERB
dem-11858	15	28	the	the	DET
dem-11858	15	29	negative	negative	ADJ
dem-11858	15	30	effects	effect	NOUN
dem-11858	15	31	of	of	ADP
dem-11858	15	32	its	its	PRON
dem-11858	15	33	occurrence	occurrence	NOUN
dem-11858	15	34	and	and	CCONJ
dem-11858	15	35	will	will	AUX
dem-11858	15	36	not	not	PART
dem-11858	15	37	impede	impede	VERB
dem-11858	15	38	the	the	DET
dem-11858	15	39	government	government	NOUN
dem-11858	15	40	’s	’s	PART
dem-11858	15	41	tasks	task	NOUN
dem-11858	15	42	implemented	implement	VERB
dem-11858	15	43	to	to	PART
dem-11858	15	44	stabilise	stabilise	VERB
dem-11858	15	45	the	the	DET
dem-11858	15	46	economy	economy	NOUN
dem-11858	15	47	(	(	PUNCT
dem-11858	15	48	buiter	buiter	NOUN
dem-11858	15	49	,	,	PUNCT
dem-11858	15	50	2006	2006	NUM
dem-11858	15	51	,	,	PUNCT
dem-11858	15	52	p.	p.	NOUN
dem-11858	15	53	2	2	NUM
dem-11858	15	54	;	;	PUNCT
dem-11858	15	55	marchewka	marchewka	NOUN
dem-11858	15	56	-	-	PUNCT
dem-11858	15	57	bartkowiak	bartkowiak	NOUN
dem-11858	15	58	,	,	PUNCT
dem-11858	15	59	2008	2008	NUM
dem-11858	15	60	,	,	PUNCT
dem-11858	15	61	p.	p.	NOUN
dem-11858	15	62	55	55	NUM
dem-11858	15	63	)	)	PUNCT
dem-11858	15	64	.	.	PUNCT
dem-11858	16	1	referring	refer	VERB
dem-11858	16	2	to	to	ADP
dem-11858	16	3	the	the	DET
dem-11858	16	4	french	french	ADJ
dem-11858	16	5	economist	economist	NOUN
dem-11858	16	6	,	,	PUNCT
dem-11858	16	7	o.	o.	PROPN
dem-11858	16	8	j.	j.	PROPN
dem-11858	16	9	blanchard	blanchard	PROPN
dem-11858	16	10	,	,	PUNCT
dem-11858	16	11	a	a	DET
dem-11858	16	12	stable	stable	ADJ
dem-11858	16	13	fiscal	fiscal	ADJ
dem-11858	16	14	policy	policy	NOUN
dem-11858	16	15	occurs	occur	VERB
dem-11858	16	16	when	when	SCONJ
dem-11858	16	17	it	it	PRON
dem-11858	16	18	effectively	effectively	ADV
dem-11858	16	19	aims	aim	VERB
dem-11858	16	20	to	to	PART
dem-11858	16	21	re	re	VERB
dem-11858	16	22	*	*	PUNCT
dem-11858	16	23	correspondence	correspondence	NOUN
dem-11858	16	24	to	to	ADP
dem-11858	16	25	:	:	PUNCT
dem-11858	16	26	elżbieta	elżbieta	PROPN
dem-11858	16	27	szulc	szulc	PROPN
dem-11858	16	28	,	,	PUNCT
dem-11858	16	29	nicolaus	nicolaus	PROPN
dem-11858	16	30	copernicus	copernicus	PROPN
dem-11858	16	31	university	university	PROPN
dem-11858	16	32	,	,	PUNCT
dem-11858	16	33	faculty	faculty	NOUN
dem-11858	16	34	of	of	ADP
dem-11858	16	35	economic	economic	ADJ
dem-11858	16	36	sciences	science	NOUN
dem-11858	16	37	and	and	CCONJ
dem-11858	16	38	management	management	NOUN
dem-11858	16	39	,	,	PUNCT
dem-11858	16	40	13a	13a	PROPN
dem-11858	16	41	gagarina	gagarina	PROPN
dem-11858	16	42	street	street	PROPN
dem-11858	16	43	,	,	PUNCT
dem-11858	16	44	87	87	NUM
dem-11858	16	45	-	-	SYM
dem-11858	16	46	100	100	NUM
dem-11858	16	47	toruń	toruń	NOUN
dem-11858	16	48	,	,	PUNCT
dem-11858	16	49	poland	poland	PROPN
dem-11858	16	50	,	,	PUNCT
dem-11858	16	51	e	e	NOUN
dem-11858	16	52	-	-	NOUN
dem-11858	16	53	mail	mail	NOUN
dem-11858	16	54	:	:	PUNCT
dem-11858	16	55	eszulc@umk.pl	eszulc@umk.pl	PROPN
dem-11858	16	56	elżbieta	elżbieta	PROPN
dem-11858	16	57	szulc	szulc	PROPN
dem-11858	16	58	,	,	PUNCT
dem-11858	16	59	dagna	dagna	VERB
dem-11858	16	60	wleklińska	wleklińska	NOUN
dem-11858	16	61	,	,	PUNCT
dem-11858	16	62	karolina	karolina	PROPN
dem-11858	16	63	górna	górna	PROPN
dem-11858	16	64	dynamic	dynamic	ADJ
dem-11858	16	65	econometric	econometric	ADJ
dem-11858	16	66	models	model	NOUN
dem-11858	16	67	16	16	NUM
dem-11858	16	68	(	(	PUNCT
dem-11858	16	69	2016	2016	NUM
dem-11858	16	70	)	)	PUNCT
dem-11858	16	71	165–187	165–187	NUM
dem-11858	16	72	166	166	NUM
dem-11858	16	73	duce	duce	NOUN
dem-11858	16	74	the	the	DET
dem-11858	16	75	ratio	ratio	NOUN
dem-11858	16	76	of	of	ADP
dem-11858	16	77	public	public	ADJ
dem-11858	16	78	debt	debt	NOUN
dem-11858	16	79	to	to	ADP
dem-11858	16	80	gross	gross	ADJ
dem-11858	16	81	domestic	domestic	ADJ
dem-11858	16	82	product	product	NOUN
dem-11858	16	83	.	.	PUNCT
dem-11858	17	1	therefore	therefore	ADV
dem-11858	17	2	,	,	PUNCT
dem-11858	17	3	a	a	DET
dem-11858	17	4	longterm	longterm	ADJ
dem-11858	17	5	debt	debt	NOUN
dem-11858	17	6	growth	growth	NOUN
dem-11858	17	7	rate	rate	NOUN
dem-11858	17	8	should	should	AUX
dem-11858	17	9	not	not	PART
dem-11858	17	10	exceed	exceed	VERB
dem-11858	17	11	the	the	DET
dem-11858	17	12	height	height	NOUN
dem-11858	17	13	of	of	ADP
dem-11858	17	14	interest	interest	NOUN
dem-11858	17	15	rates	rate	NOUN
dem-11858	17	16	,	,	PUNCT
dem-11858	17	17	while	while	SCONJ
dem-11858	17	18	the	the	DET
dem-11858	17	19	debt	debt	NOUN
dem-11858	17	20	ratio	ratio	NOUN
dem-11858	17	21	,	,	PUNCT
dem-11858	17	22	measured	measure	VERB
dem-11858	17	23	by	by	ADP
dem-11858	17	24	the	the	DET
dem-11858	17	25	ratio	ratio	NOUN
dem-11858	17	26	of	of	ADP
dem-11858	17	27	public	public	ADJ
dem-11858	17	28	debt	debt	NOUN
dem-11858	17	29	to	to	ADP
dem-11858	17	30	gross	gross	ADJ
dem-11858	17	31	domestic	domestic	ADJ
dem-11858	17	32	product	product	NOUN
dem-11858	17	33	,	,	PUNCT
dem-11858	17	34	should	should	AUX
dem-11858	17	35	not	not	PART
dem-11858	17	36	be	be	AUX
dem-11858	17	37	higher	high	ADJ
dem-11858	17	38	than	than	ADP
dem-11858	17	39	the	the	DET
dem-11858	17	40	difference	difference	NOUN
dem-11858	17	41	between	between	ADP
dem-11858	17	42	the	the	DET
dem-11858	17	43	rate	rate	NOUN
dem-11858	17	44	of	of	ADP
dem-11858	17	45	economic	economic	ADJ
dem-11858	17	46	growth	growth	NOUN
dem-11858	17	47	and	and	CCONJ
dem-11858	17	48	long	long	ADJ
dem-11858	17	49	-	-	PUNCT
dem-11858	17	50	term	term	NOUN
dem-11858	17	51	interest	interest	NOUN
dem-11858	17	52	rates	rate	NOUN
dem-11858	17	53	.	.	PUNCT
dem-11858	18	1	thus	thus	ADV
dem-11858	18	2	,	,	PUNCT
dem-11858	18	3	a	a	DET
dem-11858	18	4	conclusion	conclusion	NOUN
dem-11858	18	5	arises	arise	VERB
dem-11858	18	6	that	that	SCONJ
dem-11858	18	7	an	an	DET
dem-11858	18	8	increase	increase	NOUN
dem-11858	18	9	in	in	ADP
dem-11858	18	10	the	the	DET
dem-11858	18	11	government	government	NOUN
dem-11858	18	12	spending	spending	NOUN
dem-11858	18	13	intended	intend	VERB
dem-11858	18	14	to	to	PART
dem-11858	18	15	support	support	VERB
dem-11858	18	16	the	the	DET
dem-11858	18	17	economic	economic	ADJ
dem-11858	18	18	situation	situation	NOUN
dem-11858	18	19	in	in	ADP
dem-11858	18	20	the	the	DET
dem-11858	18	21	country	country	NOUN
dem-11858	18	22	must	must	AUX
dem-11858	18	23	be	be	AUX
dem-11858	18	24	later	later	ADV
dem-11858	18	25	offset	offset	VERB
dem-11858	18	26	by	by	ADP
dem-11858	18	27	actions	action	NOUN
dem-11858	18	28	aimed	aim	VERB
dem-11858	18	29	at	at	ADP
dem-11858	18	30	achieving	achieve	VERB
dem-11858	18	31	fiscal	fiscal	ADJ
dem-11858	18	32	stability	stability	NOUN
dem-11858	18	33	by	by	ADP
dem-11858	18	34	reducing	reduce	VERB
dem-11858	18	35	the	the	DET
dem-11858	18	36	ratio	ratio	NOUN
dem-11858	18	37	of	of	ADP
dem-11858	18	38	public	public	ADJ
dem-11858	18	39	debt	debt	NOUN
dem-11858	18	40	to	to	ADP
dem-11858	18	41	gdp	gdp	NOUN
dem-11858	18	42	(	(	PUNCT
dem-11858	18	43	blanchard	blanchard	NOUN
dem-11858	18	44	,	,	PUNCT
dem-11858	18	45	1990	1990	NUM
dem-11858	18	46	,	,	PUNCT
dem-11858	18	47	p.	p.	NOUN
dem-11858	18	48	13	13	NUM
dem-11858	18	49	)	)	PUNCT
dem-11858	18	50	.	.	PUNCT
dem-11858	19	1	narrowing	narrow	VERB
dem-11858	19	2	disparities	disparity	NOUN
dem-11858	19	3	among	among	ADP
dem-11858	19	4	long	long	ADJ
dem-11858	19	5	-	-	PUNCT
dem-11858	19	6	term	term	NOUN
dem-11858	19	7	interest	interest	NOUN
dem-11858	19	8	rates	rate	NOUN
dem-11858	19	9	that	that	PRON
dem-11858	19	10	ensure	ensure	VERB
dem-11858	19	11	fiscal	fiscal	ADJ
dem-11858	19	12	stabilisation	stabilisation	NOUN
dem-11858	19	13	is	be	AUX
dem-11858	19	14	identified	identify	VERB
dem-11858	19	15	with	with	ADP
dem-11858	19	16	one	one	NUM
dem-11858	19	17	of	of	ADP
dem-11858	19	18	the	the	DET
dem-11858	19	19	most	most	ADV
dem-11858	19	20	important	important	ADJ
dem-11858	19	21	dimensions	dimension	NOUN
dem-11858	19	22	of	of	ADP
dem-11858	19	23	convergence	convergence	NOUN
dem-11858	19	24	processes	process	NOUN
dem-11858	19	25	,	,	PUNCT
dem-11858	19	26	which	which	PRON
dem-11858	19	27	are	be	AUX
dem-11858	19	28	considered	consider	VERB
dem-11858	19	29	in	in	ADP
dem-11858	19	30	relation	relation	NOUN
dem-11858	19	31	to	to	ADP
dem-11858	19	32	european	european	ADJ
dem-11858	19	33	economies	economy	NOUN
dem-11858	19	34	.	.	PUNCT
dem-11858	20	1	the	the	DET
dem-11858	20	2	fundamental	fundamental	ADJ
dem-11858	20	3	theory	theory	NOUN
dem-11858	20	4	that	that	PRON
dem-11858	20	5	should	should	AUX
dem-11858	20	6	be	be	AUX
dem-11858	20	7	used	use	VERB
dem-11858	20	8	to	to	PART
dem-11858	20	9	explain	explain	VERB
dem-11858	20	10	the	the	DET
dem-11858	20	11	mechanism	mechanism	NOUN
dem-11858	20	12	of	of	ADP
dem-11858	20	13	european	european	ADJ
dem-11858	20	14	integration	integration	NOUN
dem-11858	20	15	and	and	CCONJ
dem-11858	20	16	also	also	ADV
dem-11858	20	17	one	one	NUM
dem-11858	20	18	of	of	ADP
dem-11858	20	19	its	its	PRON
dem-11858	20	20	components	component	NOUN
dem-11858	20	21	,	,	PUNCT
dem-11858	20	22	the	the	DET
dem-11858	20	23	monetary	monetary	ADJ
dem-11858	20	24	integration	integration	NOUN
dem-11858	20	25	,	,	PUNCT
dem-11858	20	26	is	be	AUX
dem-11858	20	27	the	the	DET
dem-11858	20	28	theory	theory	NOUN
dem-11858	20	29	of	of	ADP
dem-11858	20	30	optimum	optimum	ADJ
dem-11858	20	31	currency	currency	NOUN
dem-11858	20	32	areas	area	NOUN
dem-11858	20	33	.	.	PUNCT
dem-11858	21	1	according	accord	VERB
dem-11858	21	2	to	to	ADP
dem-11858	21	3	it	it	PRON
dem-11858	21	4	,	,	PUNCT
dem-11858	21	5	one	one	NUM
dem-11858	21	6	of	of	ADP
dem-11858	21	7	the	the	DET
dem-11858	21	8	main	main	ADJ
dem-11858	21	9	factors	factor	NOUN
dem-11858	21	10	that	that	PRON
dem-11858	21	11	lead	lead	VERB
dem-11858	21	12	to	to	ADP
dem-11858	21	13	fluctuations	fluctuation	NOUN
dem-11858	21	14	in	in	ADP
dem-11858	21	15	the	the	DET
dem-11858	21	16	exchange	exchange	NOUN
dem-11858	21	17	rate	rate	NOUN
dem-11858	21	18	is	be	AUX
dem-11858	21	19	the	the	DET
dem-11858	21	20	interest	interest	NOUN
dem-11858	21	21	rate	rate	NOUN
dem-11858	21	22	differential	differential	NOUN
dem-11858	21	23	.	.	PUNCT
dem-11858	22	1	regarding	regard	VERB
dem-11858	22	2	the	the	DET
dem-11858	22	3	fact	fact	NOUN
dem-11858	22	4	that	that	SCONJ
dem-11858	22	5	a	a	DET
dem-11858	22	6	monetary	monetary	ADJ
dem-11858	22	7	union	union	NOUN
dem-11858	22	8	operates	operate	VERB
dem-11858	22	9	in	in	ADP
dem-11858	22	10	the	the	DET
dem-11858	22	11	territory	territory	NOUN
dem-11858	22	12	of	of	ADP
dem-11858	22	13	the	the	DET
dem-11858	22	14	old	old	ADJ
dem-11858	22	15	continent	continent	NOUN
dem-11858	22	16	,	,	PUNCT
dem-11858	22	17	those	those	DET
dem-11858	22	18	disparities	disparity	NOUN
dem-11858	22	19	may	may	AUX
dem-11858	22	20	lead	lead	VERB
dem-11858	22	21	to	to	ADP
dem-11858	22	22	asymmetric	asymmetric	ADJ
dem-11858	22	23	shocks	shock	NOUN
dem-11858	22	24	.	.	PUNCT
dem-11858	23	1	the	the	DET
dem-11858	23	2	monetary	monetary	ADJ
dem-11858	23	3	policy	policy	NOUN
dem-11858	23	4	which	which	PRON
dem-11858	23	5	is	be	AUX
dem-11858	23	6	common	common	ADJ
dem-11858	23	7	to	to	ADP
dem-11858	23	8	the	the	DET
dem-11858	23	9	member	member	NOUN
dem-11858	23	10	countries	country	NOUN
dem-11858	23	11	does	do	AUX
dem-11858	23	12	not	not	PART
dem-11858	23	13	constitute	constitute	VERB
dem-11858	23	14	an	an	DET
dem-11858	23	15	effective	effective	ADJ
dem-11858	23	16	tool	tool	NOUN
dem-11858	23	17	for	for	ADP
dem-11858	23	18	leveling	level	VERB
dem-11858	23	19	the	the	DET
dem-11858	23	20	risk	risk	NOUN
dem-11858	23	21	and	and	CCONJ
dem-11858	23	22	consequences	consequence	NOUN
dem-11858	23	23	of	of	ADP
dem-11858	23	24	such	such	ADJ
dem-11858	23	25	shocks	shock	NOUN
dem-11858	23	26	,	,	PUNCT
dem-11858	23	27	and	and	CCONJ
dem-11858	23	28	,	,	PUNCT
dem-11858	23	29	therefore	therefore	ADV
dem-11858	23	30	,	,	PUNCT
dem-11858	23	31	their	their	PRON
dem-11858	23	32	appearance	appearance	NOUN
dem-11858	23	33	may	may	AUX
dem-11858	23	34	constitute	constitute	VERB
dem-11858	23	35	a	a	DET
dem-11858	23	36	real	real	ADJ
dem-11858	23	37	threat	threat	NOUN
dem-11858	23	38	to	to	ADP
dem-11858	23	39	the	the	DET
dem-11858	23	40	stability	stability	NOUN
dem-11858	23	41	of	of	ADP
dem-11858	23	42	the	the	DET
dem-11858	23	43	monetary	monetary	ADJ
dem-11858	23	44	union	union	NOUN
dem-11858	23	45	.	.	PUNCT
dem-11858	24	1	the	the	DET
dem-11858	24	2	theory	theory	NOUN
dem-11858	24	3	of	of	ADP
dem-11858	24	4	convergence	convergence	NOUN
dem-11858	24	5	points	point	NOUN
dem-11858	24	6	to	to	ADP
dem-11858	24	7	key	key	ADJ
dem-11858	24	8	areas	area	NOUN
dem-11858	24	9	of	of	ADP
dem-11858	24	10	similarity	similarity	NOUN
dem-11858	24	11	between	between	ADP
dem-11858	24	12	particular	particular	ADJ
dem-11858	24	13	economies	economy	NOUN
dem-11858	24	14	and	and	CCONJ
dem-11858	24	15	thus	thus	ADV
dem-11858	24	16	can	can	AUX
dem-11858	24	17	help	help	VERB
dem-11858	24	18	prevent	prevent	VERB
dem-11858	24	19	an	an	DET
dem-11858	24	20	occurrence	occurrence	NOUN
dem-11858	24	21	of	of	ADP
dem-11858	24	22	the	the	DET
dem-11858	24	23	said	say	VERB
dem-11858	24	24	shocks	shock	NOUN
dem-11858	24	25	and	and	CCONJ
dem-11858	24	26	ensure	ensure	VERB
dem-11858	24	27	stabilisation	stabilisation	NOUN
dem-11858	24	28	of	of	ADP
dem-11858	24	29	the	the	DET
dem-11858	24	30	exchange	exchange	NOUN
dem-11858	24	31	rate	rate	NOUN
dem-11858	24	32	.	.	PUNCT
dem-11858	25	1	it	it	PRON
dem-11858	25	2	is	be	AUX
dem-11858	25	3	particularly	particularly	ADV
dem-11858	25	4	important	important	ADJ
dem-11858	25	5	that	that	SCONJ
dem-11858	25	6	the	the	DET
dem-11858	25	7	process	process	NOUN
dem-11858	25	8	of	of	ADP
dem-11858	25	9	proximity	proximity	NOUN
dem-11858	25	10	of	of	ADP
dem-11858	25	11	interest	interest	NOUN
dem-11858	25	12	rates	rate	NOUN
dem-11858	25	13	is	be	AUX
dem-11858	25	14	accompanied	accompany	VERB
dem-11858	25	15	by	by	ADP
dem-11858	25	16	fiscal	fiscal	ADJ
dem-11858	25	17	convergence	convergence	NOUN
dem-11858	25	18	identified	identify	VERB
dem-11858	25	19	with	with	ADP
dem-11858	25	20	the	the	DET
dem-11858	25	21	harmonisation	harmonisation	NOUN
dem-11858	25	22	of	of	ADP
dem-11858	25	23	fiscal	fiscal	ADJ
dem-11858	25	24	policies	policy	NOUN
dem-11858	25	25	of	of	ADP
dem-11858	25	26	the	the	DET
dem-11858	25	27	members	member	NOUN
dem-11858	25	28	of	of	ADP
dem-11858	25	29	the	the	DET
dem-11858	25	30	eu	eu	PROPN
dem-11858	25	31	,	,	PUNCT
dem-11858	25	32	because	because	SCONJ
dem-11858	25	33	an	an	DET
dem-11858	25	34	increase	increase	NOUN
dem-11858	25	35	in	in	ADP
dem-11858	25	36	the	the	DET
dem-11858	25	37	debt	debt	NOUN
dem-11858	25	38	also	also	ADV
dem-11858	25	39	leads	lead	VERB
dem-11858	25	40	to	to	ADP
dem-11858	25	41	an	an	DET
dem-11858	25	42	escalation	escalation	NOUN
dem-11858	25	43	in	in	ADP
dem-11858	25	44	the	the	DET
dem-11858	25	45	premium	premium	NOUN
dem-11858	25	46	related	relate	VERB
dem-11858	25	47	to	to	ADP
dem-11858	25	48	the	the	DET
dem-11858	25	49	growing	grow	VERB
dem-11858	25	50	risk	risk	NOUN
dem-11858	25	51	of	of	ADP
dem-11858	25	52	insolvency	insolvency	NOUN
dem-11858	25	53	of	of	ADP
dem-11858	25	54	the	the	DET
dem-11858	25	55	issuer	issuer	NOUN
dem-11858	25	56	,	,	PUNCT
dem-11858	25	57	which	which	PRON
dem-11858	25	58	is	be	AUX
dem-11858	25	59	the	the	DET
dem-11858	25	60	main	main	ADJ
dem-11858	25	61	component	component	NOUN
dem-11858	25	62	of	of	ADP
dem-11858	25	63	interest	interest	NOUN
dem-11858	25	64	rates	rate	NOUN
dem-11858	25	65	(	(	PUNCT
dem-11858	25	66	pełka	pełka	NOUN
dem-11858	25	67	,	,	PUNCT
dem-11858	25	68	2008	2008	NUM
dem-11858	25	69	,	,	PUNCT
dem-11858	25	70	p.	p.	NOUN
dem-11858	25	71	6371	6371	NUM
dem-11858	25	72	)	)	PUNCT
dem-11858	25	73	.	.	PUNCT
dem-11858	26	1	long	long	ADJ
dem-11858	26	2	-	-	PUNCT
dem-11858	26	3	term	term	NOUN
dem-11858	26	4	interest	interest	NOUN
dem-11858	26	5	rates	rate	NOUN
dem-11858	26	6	as	as	ADP
dem-11858	26	7	a	a	DET
dem-11858	26	8	macroeconomic	macroeconomic	ADJ
dem-11858	26	9	aggregate	aggregate	NOUN
dem-11858	26	10	not	not	PART
dem-11858	26	11	only	only	ADV
dem-11858	26	12	reflect	reflect	VERB
dem-11858	26	13	country	country	NOUN
dem-11858	26	14	-	-	PUNCT
dem-11858	26	15	specific	specific	ADJ
dem-11858	26	16	market	market	NOUN
dem-11858	26	17	factors	factor	NOUN
dem-11858	26	18	which	which	PRON
dem-11858	26	19	determine	determine	VERB
dem-11858	26	20	the	the	DET
dem-11858	26	21	nominal	nominal	ADJ
dem-11858	26	22	cost	cost	NOUN
dem-11858	26	23	of	of	ADP
dem-11858	26	24	the	the	DET
dem-11858	26	25	credit	credit	NOUN
dem-11858	26	26	,	,	PUNCT
dem-11858	26	27	for	for	ADP
dem-11858	26	28	example	example	NOUN
dem-11858	26	29	,	,	PUNCT
dem-11858	26	30	those	those	PRON
dem-11858	26	31	connected	connect	VERB
dem-11858	26	32	with	with	ADP
dem-11858	26	33	the	the	DET
dem-11858	26	34	rate	rate	NOUN
dem-11858	26	35	of	of	ADP
dem-11858	26	36	increase	increase	NOUN
dem-11858	26	37	in	in	ADP
dem-11858	26	38	prices	price	NOUN
dem-11858	26	39	or	or	CCONJ
dem-11858	26	40	inflation	inflation	NOUN
dem-11858	26	41	expectations	expectation	NOUN
dem-11858	26	42	,	,	PUNCT
dem-11858	26	43	but	but	CCONJ
dem-11858	26	44	also	also	ADV
dem-11858	26	45	indicate	indicate	VERB
dem-11858	26	46	the	the	DET
dem-11858	26	47	manner	manner	NOUN
dem-11858	26	48	of	of	ADP
dem-11858	26	49	conducting	conducting	NOUN
dem-11858	26	50	and	and	CCONJ
dem-11858	26	51	the	the	DET
dem-11858	26	52	quality	quality	NOUN
dem-11858	26	53	of	of	ADP
dem-11858	26	54	economic	economic	ADJ
dem-11858	26	55	policy	policy	NOUN
dem-11858	26	56	.	.	PUNCT
dem-11858	27	1	the	the	DET
dem-11858	27	2	contemporary	contemporary	PROPN
dem-11858	27	3	global	global	ADJ
dem-11858	27	4	financial	financial	ADJ
dem-11858	27	5	crisis	crisis	NOUN
dem-11858	27	6	has	have	AUX
dem-11858	27	7	revealed	reveal	VERB
dem-11858	27	8	weaknesses	weakness	NOUN
dem-11858	27	9	in	in	ADP
dem-11858	27	10	the	the	DET
dem-11858	27	11	functioning	functioning	NOUN
dem-11858	27	12	of	of	ADP
dem-11858	27	13	the	the	DET
dem-11858	27	14	european	european	PROPN
dem-11858	27	15	union	union	PROPN
dem-11858	27	16	,	,	PUNCT
dem-11858	27	17	highlighting	highlight	VERB
dem-11858	27	18	the	the	DET
dem-11858	27	19	need	need	NOUN
dem-11858	27	20	to	to	PART
dem-11858	27	21	reform	reform	VERB
dem-11858	27	22	its	its	PRON
dem-11858	27	23	economic	economic	ADJ
dem-11858	27	24	and	and	CCONJ
dem-11858	27	25	institutional	institutional	ADJ
dem-11858	27	26	mechanisms	mechanism	NOUN
dem-11858	27	27	.	.	PUNCT
dem-11858	28	1	the	the	DET
dem-11858	28	2	fiscal	fiscal	ADJ
dem-11858	28	3	rules	rule	NOUN
dem-11858	28	4	defined	define	VERB
dem-11858	28	5	in	in	ADP
dem-11858	28	6	the	the	DET
dem-11858	28	7	maastricht	maastricht	PROPN
dem-11858	28	8	treaty	treaty	NOUN
dem-11858	28	9	and	and	CCONJ
dem-11858	28	10	the	the	DET
dem-11858	28	11	complementary	complementary	ADJ
dem-11858	28	12	stability	stability	NOUN
dem-11858	28	13	and	and	CCONJ
dem-11858	28	14	growth	growth	NOUN
dem-11858	28	15	pact	pact	NOUN
dem-11858	28	16	have	have	AUX
dem-11858	28	17	proven	prove	VERB
dem-11858	28	18	ineffective	ineffective	ADJ
dem-11858	28	19	.	.	PUNCT
dem-11858	29	1	however	however	ADV
dem-11858	29	2	,	,	PUNCT
dem-11858	29	3	the	the	DET
dem-11858	29	4	insufficient	insufficient	ADJ
dem-11858	29	5	fiscal	fiscal	ADJ
dem-11858	29	6	discipline	discipline	NOUN
dem-11858	29	7	in	in	ADP
dem-11858	29	8	many	many	ADJ
dem-11858	29	9	economies	economy	NOUN
dem-11858	29	10	the	the	DET
dem-11858	29	11	share	share	NOUN
dem-11858	29	12	of	of	ADP
dem-11858	29	13	european	european	ADJ
dem-11858	29	14	economies	economy	NOUN
dem-11858	29	15	in	in	ADP
dem-11858	29	16	the	the	DET
dem-11858	29	17	process	process	NOUN
dem-11858	29	18	of	of	ADP
dem-11858	29	19	convergence	convergence	NOUN
dem-11858	29	20	…	…	SYM
dem-11858	29	21	dynamic	dynamic	ADJ
dem-11858	29	22	econometric	econometric	ADJ
dem-11858	29	23	models	model	NOUN
dem-11858	29	24	16	16	NUM
dem-11858	29	25	(	(	PUNCT
dem-11858	29	26	2016	2016	NUM
dem-11858	29	27	)	)	PUNCT
dem-11858	29	28	165–187	165–187	NUM
dem-11858	29	29	167	167	NUM
dem-11858	29	30	was	be	AUX
dem-11858	29	31	not	not	PART
dem-11858	29	32	the	the	DET
dem-11858	29	33	reason	reason	NOUN
dem-11858	29	34	but	but	CCONJ
dem-11858	29	35	rather	rather	ADV
dem-11858	29	36	a	a	DET
dem-11858	29	37	consequence	consequence	NOUN
dem-11858	29	38	of	of	ADP
dem-11858	29	39	the	the	DET
dem-11858	29	40	contemporary	contemporary	ADJ
dem-11858	29	41	crisis	crisis	NOUN
dem-11858	29	42	with	with	ADP
dem-11858	29	43	the	the	DET
dem-11858	29	44	underlying	underlying	ADJ
dem-11858	29	45	deep	deep	ADJ
dem-11858	29	46	structural	structural	ADJ
dem-11858	29	47	differences	difference	NOUN
dem-11858	29	48	between	between	ADP
dem-11858	29	49	european	european	ADJ
dem-11858	29	50	economies	economy	NOUN
dem-11858	29	51	.	.	PUNCT
dem-11858	30	1	the	the	DET
dem-11858	30	2	increasing	increase	VERB
dem-11858	30	3	integration	integration	NOUN
dem-11858	30	4	of	of	ADP
dem-11858	30	5	financial	financial	ADJ
dem-11858	30	6	markets	market	NOUN
dem-11858	30	7	and	and	CCONJ
dem-11858	30	8	a	a	DET
dem-11858	30	9	common	common	ADJ
dem-11858	30	10	monetary	monetary	ADJ
dem-11858	30	11	policy	policy	NOUN
dem-11858	30	12	aimed	aim	VERB
dem-11858	30	13	at	at	ADP
dem-11858	30	14	maintaining	maintain	VERB
dem-11858	30	15	relatively	relatively	ADV
dem-11858	30	16	low	low	ADJ
dem-11858	30	17	and	and	CCONJ
dem-11858	30	18	often	often	ADV
dem-11858	30	19	negative	negative	ADJ
dem-11858	30	20	interest	interest	NOUN
dem-11858	30	21	rates	rate	NOUN
dem-11858	30	22	in	in	ADP
dem-11858	30	23	peripheral	peripheral	ADJ
dem-11858	30	24	european	european	ADJ
dem-11858	30	25	countries	country	NOUN
dem-11858	30	26	,	,	PUNCT
dem-11858	30	27	led	lead	VERB
dem-11858	30	28	to	to	ADP
dem-11858	30	29	a	a	DET
dem-11858	30	30	further	further	ADJ
dem-11858	30	31	deepening	deepening	NOUN
dem-11858	30	32	of	of	ADP
dem-11858	30	33	the	the	DET
dem-11858	30	34	existing	exist	VERB
dem-11858	30	35	differences	difference	NOUN
dem-11858	30	36	.	.	PUNCT
dem-11858	31	1	the	the	DET
dem-11858	31	2	existing	exist	VERB
dem-11858	31	3	literature	literature	NOUN
dem-11858	31	4	confirms	confirm	VERB
dem-11858	31	5	an	an	DET
dem-11858	31	6	occurrence	occurrence	NOUN
dem-11858	31	7	of	of	ADP
dem-11858	31	8	convergence	convergence	NOUN
dem-11858	31	9	processes	process	NOUN
dem-11858	31	10	of	of	ADP
dem-11858	31	11	long	long	ADJ
dem-11858	31	12	-	-	PUNCT
dem-11858	31	13	term	term	NOUN
dem-11858	31	14	interest	interest	NOUN
dem-11858	31	15	rates	rate	NOUN
dem-11858	31	16	during	during	ADP
dem-11858	31	17	the	the	DET
dem-11858	31	18	period	period	NOUN
dem-11858	31	19	of	of	ADP
dem-11858	31	20	preparation	preparation	NOUN
dem-11858	31	21	of	of	ADP
dem-11858	31	22	particular	particular	ADJ
dem-11858	31	23	countries	country	NOUN
dem-11858	31	24	to	to	PART
dem-11858	31	25	adopt	adopt	VERB
dem-11858	31	26	the	the	DET
dem-11858	31	27	common	common	ADJ
dem-11858	31	28	currency	currency	NOUN
dem-11858	31	29	and	and	CCONJ
dem-11858	31	30	introduce	introduce	VERB
dem-11858	31	31	it	it	PRON
dem-11858	31	32	into	into	ADP
dem-11858	31	33	circulation	circulation	NOUN
dem-11858	31	34	(	(	PUNCT
dem-11858	31	35	adam	adam	PROPN
dem-11858	31	36	et	et	PROPN
dem-11858	31	37	al	al	PROPN
dem-11858	31	38	.	.	PROPN
dem-11858	31	39	,	,	PUNCT
dem-11858	31	40	2002	2002	NUM
dem-11858	31	41	;	;	PUNCT
dem-11858	31	42	pagano	pagano	PROPN
dem-11858	31	43	and	and	CCONJ
dem-11858	31	44	von	von	PROPN
dem-11858	31	45	thadden	thadden	PROPN
dem-11858	31	46	,	,	PUNCT
dem-11858	31	47	2004	2004	NUM
dem-11858	31	48	)	)	PUNCT
dem-11858	31	49	.	.	PUNCT
dem-11858	32	1	as	as	ADP
dem-11858	32	2	a	a	DET
dem-11858	32	3	consequence	consequence	NOUN
dem-11858	32	4	of	of	ADP
dem-11858	32	5	maintaining	maintain	VERB
dem-11858	32	6	stable	stable	ADJ
dem-11858	32	7	exchange	exchange	NOUN
dem-11858	32	8	rates	rate	NOUN
dem-11858	32	9	the	the	DET
dem-11858	32	10	possibility	possibility	NOUN
dem-11858	32	11	of	of	ADP
dem-11858	32	12	devaluation	devaluation	NOUN
dem-11858	32	13	of	of	ADP
dem-11858	32	14	individual	individual	ADJ
dem-11858	32	15	currencies	currency	NOUN
dem-11858	32	16	in	in	ADP
dem-11858	32	17	order	order	NOUN
dem-11858	32	18	to	to	PART
dem-11858	32	19	increase	increase	VERB
dem-11858	32	20	the	the	DET
dem-11858	32	21	competitiveness	competitiveness	NOUN
dem-11858	32	22	of	of	ADP
dem-11858	32	23	the	the	DET
dem-11858	32	24	economy	economy	NOUN
dem-11858	32	25	was	be	AUX
dem-11858	32	26	eliminated	eliminate	VERB
dem-11858	32	27	,	,	PUNCT
dem-11858	32	28	and	and	CCONJ
dem-11858	32	29	the	the	DET
dem-11858	32	30	elimination	elimination	NOUN
dem-11858	32	31	of	of	ADP
dem-11858	32	32	an	an	DET
dem-11858	32	33	exchange	exchange	NOUN
dem-11858	32	34	rate	rate	NOUN
dem-11858	32	35	risk	risk	NOUN
dem-11858	32	36	premium	premium	NOUN
dem-11858	32	37	led	lead	VERB
dem-11858	32	38	to	to	ADP
dem-11858	32	39	a	a	DET
dem-11858	32	40	reduction	reduction	NOUN
dem-11858	32	41	of	of	ADP
dem-11858	32	42	discrepancies	discrepancy	NOUN
dem-11858	32	43	in	in	ADP
dem-11858	32	44	terms	term	NOUN
dem-11858	32	45	of	of	ADP
dem-11858	32	46	profits	profit	NOUN
dem-11858	32	47	from	from	ADP
dem-11858	32	48	bonds	bond	NOUN
dem-11858	32	49	issued	issue	VERB
dem-11858	32	50	by	by	ADP
dem-11858	32	51	countries	country	NOUN
dem-11858	32	52	belonging	belong	VERB
dem-11858	32	53	to	to	ADP
dem-11858	32	54	the	the	DET
dem-11858	32	55	euro	euro	PROPN
dem-11858	32	56	area	area	NOUN
dem-11858	32	57	.	.	PUNCT
dem-11858	33	1	the	the	DET
dem-11858	33	2	vision	vision	NOUN
dem-11858	33	3	of	of	ADP
dem-11858	33	4	a	a	DET
dem-11858	33	5	common	common	ADJ
dem-11858	33	6	monetary	monetary	ADJ
dem-11858	33	7	policy	policy	NOUN
dem-11858	33	8	required	require	VERB
dem-11858	33	9	an	an	DET
dem-11858	33	10	introduction	introduction	NOUN
dem-11858	33	11	of	of	ADP
dem-11858	33	12	preparatory	preparatory	ADJ
dem-11858	33	13	mechanisms	mechanism	NOUN
dem-11858	33	14	,	,	PUNCT
dem-11858	33	15	resulting	result	VERB
dem-11858	33	16	in	in	ADP
dem-11858	33	17	an	an	DET
dem-11858	33	18	anchoring	anchoring	NOUN
dem-11858	33	19	of	of	ADP
dem-11858	33	20	inflation	inflation	NOUN
dem-11858	33	21	expectations	expectation	NOUN
dem-11858	33	22	.	.	PUNCT
dem-11858	34	1	on	on	ADP
dem-11858	34	2	the	the	DET
dem-11858	34	3	other	other	ADJ
dem-11858	34	4	hand	hand	NOUN
dem-11858	34	5	,	,	PUNCT
dem-11858	34	6	thanks	thank	NOUN
dem-11858	34	7	to	to	ADP
dem-11858	34	8	the	the	DET
dem-11858	34	9	common	common	ADJ
dem-11858	34	10	pursuit	pursuit	NOUN
dem-11858	34	11	of	of	ADP
dem-11858	34	12	the	the	DET
dem-11858	34	13	maastricht	maastricht	PROPN
dem-11858	34	14	criteria	criterion	NOUN
dem-11858	34	15	as	as	ADV
dem-11858	34	16	well	well	ADV
dem-11858	34	17	as	as	ADP
dem-11858	34	18	restrictions	restriction	NOUN
dem-11858	34	19	on	on	ADP
dem-11858	34	20	fiscal	fiscal	ADJ
dem-11858	34	21	policy	policy	NOUN
dem-11858	34	22	,	,	PUNCT
dem-11858	34	23	credit	credit	NOUN
dem-11858	34	24	risk	risk	NOUN
dem-11858	34	25	was	be	AUX
dem-11858	34	26	maintained	maintain	VERB
dem-11858	34	27	at	at	ADP
dem-11858	34	28	a	a	DET
dem-11858	34	29	relatively	relatively	ADV
dem-11858	34	30	low	low	ADJ
dem-11858	34	31	level	level	NOUN
dem-11858	34	32	(	(	PUNCT
dem-11858	34	33	baele	baele	NOUN
dem-11858	34	34	,	,	PUNCT
dem-11858	34	35	2004	2004	NUM
dem-11858	34	36	,	,	PUNCT
dem-11858	34	37	p.	p.	NOUN
dem-11858	34	38	38	38	NUM
dem-11858	34	39	;	;	PUNCT
dem-11858	34	40	lane	lane	NOUN
dem-11858	34	41	,	,	PUNCT
dem-11858	34	42	2012	2012	NUM
dem-11858	34	43	,	,	PUNCT
dem-11858	34	44	p.	p.	NOUN
dem-11858	34	45	1	1	NUM
dem-11858	34	46	)	)	PUNCT
dem-11858	34	47	.	.	PUNCT
dem-11858	35	1	however	however	ADV
dem-11858	35	2	,	,	PUNCT
dem-11858	35	3	in	in	ADP
dem-11858	35	4	the	the	DET
dem-11858	35	5	recent	recent	ADJ
dem-11858	35	6	period	period	NOUN
dem-11858	35	7	,	,	PUNCT
dem-11858	35	8	the	the	DET
dem-11858	35	9	results	result	NOUN
dem-11858	35	10	of	of	ADP
dem-11858	35	11	empirical	empirical	ADJ
dem-11858	35	12	analyses	analysis	NOUN
dem-11858	35	13	provide	provide	VERB
dem-11858	35	14	evidence	evidence	NOUN
dem-11858	35	15	that	that	SCONJ
dem-11858	35	16	following	follow	VERB
dem-11858	35	17	the	the	DET
dem-11858	35	18	outbreak	outbreak	NOUN
dem-11858	35	19	of	of	ADP
dem-11858	35	20	the	the	DET
dem-11858	35	21	global	global	ADJ
dem-11858	35	22	financial	financial	ADJ
dem-11858	35	23	crisis	crisis	NOUN
dem-11858	35	24	,	,	PUNCT
dem-11858	35	25	bonds	bond	NOUN
dem-11858	35	26	issued	issue	VERB
dem-11858	35	27	by	by	ADP
dem-11858	35	28	european	european	ADJ
dem-11858	35	29	economies	economy	NOUN
dem-11858	35	30	are	be	AUX
dem-11858	35	31	no	no	ADV
dem-11858	35	32	longer	long	ADV
dem-11858	35	33	substitutes	substitute	NOUN
dem-11858	35	34	for	for	ADP
dem-11858	35	35	each	each	DET
dem-11858	35	36	other	other	ADJ
dem-11858	35	37	.	.	PUNCT
dem-11858	36	1	the	the	DET
dem-11858	36	2	search	search	NOUN
dem-11858	36	3	for	for	ADP
dem-11858	36	4	the	the	DET
dem-11858	36	5	causes	cause	NOUN
dem-11858	36	6	of	of	ADP
dem-11858	36	7	the	the	DET
dem-11858	36	8	divergence	divergence	NOUN
dem-11858	36	9	of	of	ADP
dem-11858	36	10	long	long	ADJ
dem-11858	36	11	-	-	PUNCT
dem-11858	36	12	term	term	NOUN
dem-11858	36	13	interest	interest	NOUN
dem-11858	36	14	rates	rate	NOUN
dem-11858	36	15	was	be	AUX
dem-11858	36	16	the	the	DET
dem-11858	36	17	subject	subject	NOUN
dem-11858	36	18	of	of	ADP
dem-11858	36	19	an	an	DET
dem-11858	36	20	empirical	empirical	ADJ
dem-11858	36	21	analysis	analysis	NOUN
dem-11858	36	22	conducted	conduct	VERB
dem-11858	36	23	,	,	PUNCT
dem-11858	36	24	inter	inter	PROPN
dem-11858	36	25	alia	alia	NOUN
dem-11858	36	26	,	,	PUNCT
dem-11858	36	27	by	by	ADP
dem-11858	36	28	attinasi	attinasi	NOUN
dem-11858	36	29	et	et	PROPN
dem-11858	36	30	al	al	PROPN
dem-11858	36	31	.	.	PROPN
dem-11858	37	1	(	(	PUNCT
dem-11858	37	2	2009	2009	NUM
dem-11858	37	3	)	)	PUNCT
dem-11858	37	4	and	and	CCONJ
dem-11858	37	5	klepsch	klepsch	PROPN
dem-11858	37	6	,	,	PUNCT
dem-11858	37	7	wollmershäuser	wollmershäuser	X
dem-11858	37	8	(	(	PUNCT
dem-11858	37	9	2011	2011	NUM
dem-11858	37	10	)	)	PUNCT
dem-11858	37	11	.	.	PUNCT
dem-11858	38	1	a	a	DET
dem-11858	38	2	partial	partial	ADJ
dem-11858	38	3	justification	justification	NOUN
dem-11858	38	4	for	for	ADP
dem-11858	38	5	the	the	DET
dem-11858	38	6	differences	difference	NOUN
dem-11858	38	7	in	in	ADP
dem-11858	38	8	the	the	DET
dem-11858	38	9	spreads	spread	NOUN
dem-11858	38	10	of	of	ADP
dem-11858	38	11	the	the	DET
dem-11858	38	12	yield	yield	NOUN
dem-11858	38	13	of	of	ADP
dem-11858	38	14	government	government	NOUN
dem-11858	38	15	bonds	bond	NOUN
dem-11858	38	16	in	in	ADP
dem-11858	38	17	the	the	DET
dem-11858	38	18	european	european	PROPN
dem-11858	38	19	union	union	PROPN
dem-11858	38	20	rests	rest	VERB
dem-11858	38	21	in	in	ADP
dem-11858	38	22	the	the	DET
dem-11858	38	23	transfer	transfer	NOUN
dem-11858	38	24	of	of	ADP
dem-11858	38	25	the	the	DET
dem-11858	38	26	credit	credit	NOUN
dem-11858	38	27	risk	risk	NOUN
dem-11858	38	28	from	from	ADP
dem-11858	38	29	financial	financial	ADJ
dem-11858	38	30	institutions	institution	NOUN
dem-11858	38	31	to	to	ADP
dem-11858	38	32	governments	government	NOUN
dem-11858	38	33	which	which	PRON
dem-11858	38	34	were	be	AUX
dem-11858	38	35	providing	provide	VERB
dem-11858	38	36	them	they	PRON
dem-11858	38	37	with	with	ADP
dem-11858	38	38	the	the	DET
dem-11858	38	39	financial	financial	ADJ
dem-11858	38	40	aid	aid	NOUN
dem-11858	38	41	(	(	PUNCT
dem-11858	38	42	afonso	afonso	PROPN
dem-11858	38	43	et	et	PROPN
dem-11858	38	44	al	al	PROPN
dem-11858	38	45	.	.	PROPN
dem-11858	38	46	,	,	PUNCT
dem-11858	38	47	2015	2015	NUM
dem-11858	38	48	)	)	PUNCT
dem-11858	38	49	.	.	PUNCT
dem-11858	39	1	along	along	ADP
dem-11858	39	2	with	with	ADP
dem-11858	39	3	the	the	DET
dem-11858	39	4	intensification	intensification	NOUN
dem-11858	39	5	of	of	ADP
dem-11858	39	6	the	the	DET
dem-11858	39	7	european	european	ADJ
dem-11858	39	8	debt	debt	NOUN
dem-11858	39	9	crisis	crisis	NOUN
dem-11858	39	10	,	,	PUNCT
dem-11858	39	11	in	in	ADP
dem-11858	39	12	fear	fear	NOUN
dem-11858	39	13	of	of	ADP
dem-11858	39	14	a	a	DET
dem-11858	39	15	growing	grow	VERB
dem-11858	39	16	risk	risk	NOUN
dem-11858	39	17	investors	investor	NOUN
dem-11858	39	18	restructured	restructure	VERB
dem-11858	39	19	their	their	PRON
dem-11858	39	20	portfolios	portfolio	NOUN
dem-11858	39	21	by	by	ADP
dem-11858	39	22	deciding	decide	VERB
dem-11858	39	23	to	to	PART
dem-11858	39	24	invest	invest	VERB
dem-11858	39	25	in	in	ADP
dem-11858	39	26	safer	safe	ADJ
dem-11858	39	27	instruments	instrument	NOUN
dem-11858	39	28	that	that	PRON
dem-11858	39	29	showed	show	VERB
dem-11858	39	30	greater	great	ADJ
dem-11858	39	31	liquidity	liquidity	NOUN
dem-11858	39	32	,	,	PUNCT
dem-11858	39	33	thus	thus	ADV
dem-11858	39	34	leading	lead	VERB
dem-11858	39	35	to	to	ADP
dem-11858	39	36	a	a	DET
dem-11858	39	37	growth	growth	NOUN
dem-11858	39	38	in	in	ADP
dem-11858	39	39	the	the	DET
dem-11858	39	40	divergence	divergence	NOUN
dem-11858	39	41	between	between	ADP
dem-11858	39	42	the	the	DET
dem-11858	39	43	spreads	spread	NOUN
dem-11858	39	44	of	of	ADP
dem-11858	39	45	government	government	NOUN
dem-11858	39	46	bonds	bond	NOUN
dem-11858	39	47	(	(	PUNCT
dem-11858	39	48	barrios	barrio	NOUN
dem-11858	39	49	et	et	PROPN
dem-11858	39	50	al	al	PROPN
dem-11858	39	51	.	.	PROPN
dem-11858	39	52	,	,	PUNCT
dem-11858	39	53	2009	2009	NUM
dem-11858	39	54	)	)	PUNCT
dem-11858	39	55	.	.	PUNCT
dem-11858	40	1	given	give	VERB
dem-11858	40	2	the	the	DET
dem-11858	40	3	large	large	ADJ
dem-11858	40	4	diversity	diversity	NOUN
dem-11858	40	5	of	of	ADP
dem-11858	40	6	european	european	ADJ
dem-11858	40	7	economies	economy	NOUN
dem-11858	40	8	that	that	PRON
dem-11858	40	9	leads	lead	VERB
dem-11858	40	10	us	we	PRON
dem-11858	40	11	to	to	PART
dem-11858	40	12	believe	believe	VERB
dem-11858	40	13	that	that	SCONJ
dem-11858	40	14	in	in	ADP
dem-11858	40	15	the	the	DET
dem-11858	40	16	group	group	NOUN
dem-11858	40	17	of	of	ADP
dem-11858	40	18	the	the	DET
dem-11858	40	19	countries	country	NOUN
dem-11858	40	20	that	that	PRON
dem-11858	40	21	co	co	VERB
dem-11858	40	22	-	-	VERB
dem-11858	40	23	create	create	VERB
dem-11858	40	24	the	the	DET
dem-11858	40	25	european	european	PROPN
dem-11858	40	26	union	union	PROPN
dem-11858	40	27	there	there	PRON
dem-11858	40	28	are	be	VERB
dem-11858	40	29	economies	economy	NOUN
dem-11858	40	30	that	that	PRON
dem-11858	40	31	have	have	VERB
dem-11858	40	32	both	both	CCONJ
dem-11858	40	33	a	a	DET
dem-11858	40	34	destimulating	destimulate	VERB
dem-11858	40	35	and	and	CCONJ
dem-11858	40	36	stimulating	stimulating	ADJ
dem-11858	40	37	effect	effect	NOUN
dem-11858	40	38	on	on	ADP
dem-11858	40	39	the	the	DET
dem-11858	40	40	process	process	NOUN
dem-11858	40	41	of	of	ADP
dem-11858	40	42	convergence	convergence	NOUN
dem-11858	40	43	of	of	ADP
dem-11858	40	44	long	long	ADJ
dem-11858	40	45	-	-	PUNCT
dem-11858	40	46	term	term	NOUN
dem-11858	40	47	interest	interest	NOUN
dem-11858	40	48	rates	rate	NOUN
dem-11858	40	49	,	,	PUNCT
dem-11858	40	50	the	the	DET
dem-11858	40	51	inference	inference	NOUN
dem-11858	40	52	based	base	VERB
dem-11858	40	53	on	on	ADP
dem-11858	40	54	the	the	DET
dem-11858	40	55	classical	classical	ADJ
dem-11858	40	56	model	model	NOUN
dem-11858	40	57	of	of	ADP
dem-11858	40	58	β	β	PROPN
dem-11858	40	59	convergence	convergence	NOUN
dem-11858	40	60	,	,	PUNCT
dem-11858	40	61	which	which	PRON
dem-11858	40	62	is	be	AUX
dem-11858	40	63	the	the	DET
dem-11858	40	64	most	most	ADV
dem-11858	40	65	popular	popular	ADJ
dem-11858	40	66	method	method	NOUN
dem-11858	40	67	of	of	ADP
dem-11858	40	68	analysis	analysis	NOUN
dem-11858	40	69	of	of	ADP
dem-11858	40	70	this	this	DET
dem-11858	40	71	phenomenon	phenomenon	NOUN
dem-11858	40	72	,	,	PUNCT
dem-11858	40	73	may	may	AUX
dem-11858	40	74	lead	lead	VERB
dem-11858	40	75	to	to	ADP
dem-11858	40	76	erroneous	erroneous	ADJ
dem-11858	40	77	conclusions	conclusion	NOUN
dem-11858	40	78	(	(	PUNCT
dem-11858	40	79	nowak	nowak	PROPN
dem-11858	40	80	,	,	PUNCT
dem-11858	40	81	2007	2007	NUM
dem-11858	40	82	,	,	PUNCT
dem-11858	40	83	p.	p.	NOUN
dem-11858	40	84	7778	7778	NUM
dem-11858	40	85	)	)	PUNCT
dem-11858	40	86	.	.	PUNCT
dem-11858	41	1	among	among	ADP
dem-11858	41	2	the	the	DET
dem-11858	41	3	available	available	ADJ
dem-11858	41	4	empirical	empirical	ADJ
dem-11858	41	5	analyses	analysis	NOUN
dem-11858	41	6	regarding	regard	VERB
dem-11858	41	7	the	the	DET
dem-11858	41	8	phenomeelżbieta	phenomeelżbieta	PROPN
dem-11858	41	9	szulc	szulc	PROPN
dem-11858	41	10	,	,	PUNCT
dem-11858	41	11	dagna	dagna	VERB
dem-11858	41	12	wleklińska	wleklińska	NOUN
dem-11858	41	13	,	,	PUNCT
dem-11858	41	14	karolina	karolina	PROPN
dem-11858	41	15	górna	górna	PROPN
dem-11858	41	16	dynamic	dynamic	ADJ
dem-11858	41	17	econometric	econometric	ADJ
dem-11858	41	18	models	model	NOUN
dem-11858	41	19	16	16	NUM
dem-11858	41	20	(	(	PUNCT
dem-11858	41	21	2016	2016	NUM
dem-11858	41	22	)	)	PUNCT
dem-11858	41	23	165–187	165–187	NUM
dem-11858	41	24	168	168	NUM
dem-11858	41	25	non	non	X
dem-11858	41	26	of	of	ADP
dem-11858	41	27	convergence	convergence	NOUN
dem-11858	41	28	/	/	SYM
dem-11858	41	29	divergence	divergence	NOUN
dem-11858	41	30	of	of	ADP
dem-11858	41	31	long	long	ADJ
dem-11858	41	32	-	-	PUNCT
dem-11858	41	33	term	term	NOUN
dem-11858	41	34	interest	interest	NOUN
dem-11858	41	35	rates	rate	NOUN
dem-11858	41	36	in	in	ADP
dem-11858	41	37	the	the	DET
dem-11858	41	38	european	european	PROPN
dem-11858	41	39	union	union	PROPN
dem-11858	41	40	there	there	PRON
dem-11858	41	41	is	be	VERB
dem-11858	41	42	an	an	DET
dem-11858	41	43	absence	absence	NOUN
dem-11858	41	44	of	of	ADP
dem-11858	41	45	studies	study	NOUN
dem-11858	41	46	which	which	PRON
dem-11858	41	47	concern	concern	VERB
dem-11858	41	48	an	an	DET
dem-11858	41	49	assessment	assessment	NOUN
dem-11858	41	50	of	of	ADP
dem-11858	41	51	the	the	DET
dem-11858	41	52	contribution	contribution	NOUN
dem-11858	41	53	of	of	ADP
dem-11858	41	54	particular	particular	ADJ
dem-11858	41	55	countries	country	NOUN
dem-11858	41	56	to	to	ADP
dem-11858	41	57	this	this	DET
dem-11858	41	58	process	process	NOUN
dem-11858	41	59	.	.	PUNCT
dem-11858	42	1	the	the	DET
dem-11858	42	2	conviction	conviction	NOUN
dem-11858	42	3	of	of	ADP
dem-11858	42	4	the	the	DET
dem-11858	42	5	thus	thus	ADV
dem-11858	42	6	far	far	ADV
dem-11858	42	7	insufficient	insufficient	ADJ
dem-11858	42	8	exploration	exploration	NOUN
dem-11858	42	9	of	of	ADP
dem-11858	42	10	the	the	DET
dem-11858	42	11	convergence	convergence	NOUN
dem-11858	42	12	issues	issue	NOUN
dem-11858	42	13	,	,	PUNCT
dem-11858	42	14	in	in	ADP
dem-11858	42	15	particular	particular	ADJ
dem-11858	42	16	with	with	ADP
dem-11858	42	17	regard	regard	NOUN
dem-11858	42	18	to	to	ADP
dem-11858	42	19	the	the	DET
dem-11858	42	20	impact	impact	NOUN
dem-11858	42	21	of	of	ADP
dem-11858	42	22	individual	individual	ADJ
dem-11858	42	23	countries	country	NOUN
dem-11858	42	24	on	on	ADP
dem-11858	42	25	this	this	DET
dem-11858	42	26	process	process	NOUN
dem-11858	42	27	,	,	PUNCT
dem-11858	42	28	was	be	AUX
dem-11858	42	29	the	the	DET
dem-11858	42	30	main	main	ADJ
dem-11858	42	31	motivation	motivation	NOUN
dem-11858	42	32	of	of	ADP
dem-11858	42	33	the	the	DET
dem-11858	42	34	authors	author	NOUN
dem-11858	42	35	to	to	PART
dem-11858	42	36	undertake	undertake	VERB
dem-11858	42	37	this	this	DET
dem-11858	42	38	topic	topic	NOUN
dem-11858	42	39	.	.	PUNCT
dem-11858	43	1	the	the	DET
dem-11858	43	2	main	main	ADJ
dem-11858	43	3	objective	objective	NOUN
dem-11858	43	4	of	of	ADP
dem-11858	43	5	the	the	DET
dem-11858	43	6	empirical	empirical	ADJ
dem-11858	43	7	analysis	analysis	NOUN
dem-11858	43	8	conducted	conduct	VERB
dem-11858	43	9	in	in	ADP
dem-11858	43	10	this	this	DET
dem-11858	43	11	research	research	NOUN
dem-11858	43	12	is	be	AUX
dem-11858	43	13	to	to	PART
dem-11858	43	14	examine	examine	VERB
dem-11858	43	15	the	the	DET
dem-11858	43	16	impact	impact	NOUN
dem-11858	43	17	of	of	ADP
dem-11858	43	18	individual	individual	ADJ
dem-11858	43	19	eu	eu	PROPN
dem-11858	43	20	member	member	NOUN
dem-11858	43	21	countries	country	NOUN
dem-11858	43	22	on	on	ADP
dem-11858	43	23	the	the	DET
dem-11858	43	24	process	process	NOUN
dem-11858	43	25	of	of	ADP
dem-11858	43	26	convergence	convergence	NOUN
dem-11858	43	27	of	of	ADP
dem-11858	43	28	interest	interest	NOUN
dem-11858	43	29	rates	rate	NOUN
dem-11858	43	30	.	.	PUNCT
dem-11858	44	1	in	in	ADP
dem-11858	44	2	particular	particular	ADJ
dem-11858	44	3	,	,	PUNCT
dem-11858	44	4	we	we	PRON
dem-11858	44	5	will	will	AUX
dem-11858	44	6	be	be	AUX
dem-11858	44	7	interested	interested	ADJ
dem-11858	44	8	in	in	ADP
dem-11858	44	9	the	the	DET
dem-11858	44	10	nature	nature	NOUN
dem-11858	44	11	of	of	ADP
dem-11858	44	12	the	the	DET
dem-11858	44	13	said	say	VERB
dem-11858	44	14	impact	impact	NOUN
dem-11858	44	15	(	(	PUNCT
dem-11858	44	16	positive	positive	ADJ
dem-11858	44	17	or	or	CCONJ
dem-11858	44	18	negative	negative	ADJ
dem-11858	44	19	)	)	PUNCT
dem-11858	44	20	,	,	PUNCT
dem-11858	44	21	and	and	CCONJ
dem-11858	44	22	thus	thus	ADV
dem-11858	44	23	the	the	DET
dem-11858	44	24	answer	answer	NOUN
dem-11858	44	25	to	to	ADP
dem-11858	44	26	the	the	DET
dem-11858	44	27	question	question	NOUN
dem-11858	44	28	of	of	ADP
dem-11858	44	29	which	which	PRON
dem-11858	44	30	countries	country	NOUN
dem-11858	44	31	pose	pose	VERB
dem-11858	44	32	the	the	DET
dem-11858	44	33	greatest	great	ADJ
dem-11858	44	34	risk	risk	NOUN
dem-11858	44	35	to	to	ADP
dem-11858	44	36	the	the	DET
dem-11858	44	37	cohesion	cohesion	NOUN
dem-11858	44	38	process	process	NOUN
dem-11858	44	39	of	of	ADP
dem-11858	44	40	the	the	DET
dem-11858	44	41	ue	ue	PROPN
dem-11858	44	42	as	as	ADP
dem-11858	44	43	a	a	DET
dem-11858	44	44	whole	whole	NOUN
dem-11858	44	45	.	.	PUNCT
dem-11858	45	1	the	the	DET
dem-11858	45	2	conducted	conduct	VERB
dem-11858	45	3	analyses	analysis	NOUN
dem-11858	45	4	will	will	AUX
dem-11858	45	5	be	be	AUX
dem-11858	45	6	accompanied	accompany	VERB
dem-11858	45	7	by	by	ADP
dem-11858	45	8	an	an	DET
dem-11858	45	9	assumption	assumption	NOUN
dem-11858	45	10	of	of	ADP
dem-11858	45	11	a	a	DET
dem-11858	45	12	considerable	considerable	ADJ
dem-11858	45	13	importance	importance	NOUN
dem-11858	45	14	of	of	ADP
dem-11858	45	15	the	the	DET
dem-11858	45	16	fiscal	fiscal	ADJ
dem-11858	45	17	stability	stability	NOUN
dem-11858	45	18	of	of	ADP
dem-11858	45	19	a	a	DET
dem-11858	45	20	given	give	VERB
dem-11858	45	21	economy	economy	NOUN
dem-11858	45	22	in	in	ADP
dem-11858	45	23	the	the	DET
dem-11858	45	24	process	process	NOUN
dem-11858	45	25	of	of	ADP
dem-11858	45	26	convergence	convergence	NOUN
dem-11858	45	27	/	/	SYM
dem-11858	45	28	divergence	divergence	NOUN
dem-11858	45	29	.	.	PUNCT
dem-11858	46	1	therefore	therefore	ADV
dem-11858	46	2	,	,	PUNCT
dem-11858	46	3	we	we	PRON
dem-11858	46	4	hypothesised	hypothesise	VERB
dem-11858	46	5	that	that	SCONJ
dem-11858	46	6	the	the	DET
dem-11858	46	7	pace	pace	NOUN
dem-11858	46	8	of	of	ADP
dem-11858	46	9	changes	change	NOUN
dem-11858	46	10	occurring	occur	VERB
dem-11858	46	11	in	in	ADP
dem-11858	46	12	long	long	ADJ
dem-11858	46	13	-	-	PUNCT
dem-11858	46	14	term	term	NOUN
dem-11858	46	15	interest	interest	NOUN
dem-11858	46	16	rates	rate	NOUN
dem-11858	46	17	in	in	ADP
dem-11858	46	18	a	a	DET
dem-11858	46	19	given	give	VERB
dem-11858	46	20	country	country	NOUN
dem-11858	46	21	affects	affect	VERB
dem-11858	46	22	long	long	ADJ
dem-11858	46	23	-	-	PUNCT
dem-11858	46	24	term	term	NOUN
dem-11858	46	25	interest	interest	NOUN
dem-11858	46	26	rates	rate	NOUN
dem-11858	46	27	in	in	ADP
dem-11858	46	28	countries	country	NOUN
dem-11858	46	29	with	with	ADP
dem-11858	46	30	a	a	DET
dem-11858	46	31	similar	similar	ADJ
dem-11858	46	32	fiscal	fiscal	ADJ
dem-11858	46	33	stability	stability	NOUN
dem-11858	46	34	,	,	PUNCT
dem-11858	46	35	measured	measure	VERB
dem-11858	46	36	by	by	ADP
dem-11858	46	37	the	the	DET
dem-11858	46	38	ratio	ratio	NOUN
dem-11858	46	39	of	of	ADP
dem-11858	46	40	public	public	ADJ
dem-11858	46	41	debt	debt	NOUN
dem-11858	46	42	to	to	ADP
dem-11858	46	43	gdp	gdp	NOUN
dem-11858	46	44	.	.	PROPN
dem-11858	47	1	1	1	NUM
dem-11858	47	2	.	.	X
dem-11858	47	3	subject	subject	NOUN
dem-11858	47	4	and	and	CCONJ
dem-11858	47	5	range	range	NOUN
dem-11858	47	6	of	of	ADP
dem-11858	47	7	the	the	DET
dem-11858	47	8	investigation	investigation	NOUN
dem-11858	47	9	the	the	DET
dem-11858	47	10	subject	subject	ADJ
dem-11858	47	11	matter	matter	NOUN
dem-11858	47	12	of	of	ADP
dem-11858	47	13	the	the	DET
dem-11858	47	14	study	study	NOUN
dem-11858	47	15	concerns	concern	VERB
dem-11858	47	16	the	the	DET
dem-11858	47	17	process	process	NOUN
dem-11858	47	18	of	of	ADP
dem-11858	47	19	convergence	convergence	NOUN
dem-11858	47	20	of	of	ADP
dem-11858	47	21	long	long	ADJ
dem-11858	47	22	-	-	PUNCT
dem-11858	47	23	term	term	NOUN
dem-11858	47	24	interest	interest	NOUN
dem-11858	47	25	rates	rate	NOUN
dem-11858	47	26	in	in	ADP
dem-11858	47	27	the	the	DET
dem-11858	47	28	european	european	PROPN
dem-11858	47	29	union	union	PROPN
dem-11858	47	30	in	in	ADP
dem-11858	47	31	the	the	DET
dem-11858	47	32	period	period	NOUN
dem-11858	47	33	between	between	ADP
dem-11858	47	34	january	january	PROPN
dem-11858	47	35	2016	2016	NUM
dem-11858	47	36	and	and	CCONJ
dem-11858	47	37	november	november	PROPN
dem-11858	47	38	2016	2016	NUM
dem-11858	47	39	with	with	ADP
dem-11858	47	40	the	the	DET
dem-11858	47	41	consideration	consideration	NOUN
dem-11858	47	42	of	of	ADP
dem-11858	47	43	the	the	DET
dem-11858	47	44	particular	particular	ADJ
dem-11858	47	45	impact	impact	NOUN
dem-11858	47	46	of	of	ADP
dem-11858	47	47	individual	individual	ADJ
dem-11858	47	48	countries	country	NOUN
dem-11858	47	49	on	on	ADP
dem-11858	47	50	this	this	DET
dem-11858	47	51	process	process	NOUN
dem-11858	47	52	.	.	PUNCT
dem-11858	48	1	due	due	ADP
dem-11858	48	2	to	to	ADP
dem-11858	48	3	the	the	DET
dem-11858	48	4	unavailability	unavailability	NOUN
dem-11858	48	5	of	of	ADP
dem-11858	48	6	data	datum	NOUN
dem-11858	48	7	,	,	PUNCT
dem-11858	48	8	estonia	estonia	PROPN
dem-11858	48	9	was	be	AUX
dem-11858	48	10	excluded	exclude	VERB
dem-11858	48	11	from	from	ADP
dem-11858	48	12	the	the	DET
dem-11858	48	13	analysis	analysis	NOUN
dem-11858	48	14	.	.	PUNCT
dem-11858	49	1	the	the	DET
dem-11858	49	2	dependent	dependent	ADJ
dem-11858	49	3	variable	variable	NOUN
dem-11858	49	4	in	in	ADP
dem-11858	49	5	the	the	DET
dem-11858	49	6	models	model	NOUN
dem-11858	49	7	of	of	ADP
dem-11858	49	8	convergence	convergence	NOUN
dem-11858	49	9	was	be	AUX
dem-11858	49	10	an	an	DET
dem-11858	49	11	increase	increase	NOUN
dem-11858	49	12	in	in	ADP
dem-11858	49	13	the	the	DET
dem-11858	49	14	spread	spread	NOUN
dem-11858	49	15	of	of	ADP
dem-11858	49	16	yield	yield	NOUN
dem-11858	49	17	of	of	ADP
dem-11858	49	18	ten	ten	NUM
dem-11858	49	19	-	-	PUNCT
dem-11858	49	20	year	year	NOUN
dem-11858	49	21	treasury	treasury	NOUN
dem-11858	49	22	bonds	bond	NOUN
dem-11858	49	23	.	.	PUNCT
dem-11858	50	1	the	the	DET
dem-11858	50	2	analyses	analysis	NOUN
dem-11858	50	3	of	of	ADP
dem-11858	50	4	the	the	DET
dem-11858	50	5	relationships	relationship	NOUN
dem-11858	50	6	between	between	ADP
dem-11858	50	7	the	the	DET
dem-11858	50	8	debt	debt	NOUN
dem-11858	50	9	markets	market	NOUN
dem-11858	50	10	in	in	ADP
dem-11858	50	11	europe	europe	PROPN
dem-11858	50	12	have	have	AUX
dem-11858	50	13	been	be	AUX
dem-11858	50	14	conducted	conduct	VERB
dem-11858	50	15	using	use	VERB
dem-11858	50	16	spreads	spread	NOUN
dem-11858	50	17	understood	understand	VERB
dem-11858	50	18	as	as	ADP
dem-11858	50	19	an	an	DET
dem-11858	50	20	excess	excess	NOUN
dem-11858	50	21	in	in	ADP
dem-11858	50	22	the	the	DET
dem-11858	50	23	yields	yield	NOUN
dem-11858	50	24	expected	expect	VERB
dem-11858	50	25	by	by	ADP
dem-11858	50	26	investors	investor	NOUN
dem-11858	50	27	in	in	ADP
dem-11858	50	28	connection	connection	NOUN
dem-11858	50	29	with	with	ADP
dem-11858	50	30	the	the	DET
dem-11858	50	31	risks	risk	NOUN
dem-11858	50	32	incurred	incur	VERB
dem-11858	50	33	by	by	ADP
dem-11858	50	34	them	they	PRON
dem-11858	50	35	.	.	PUNCT
dem-11858	51	1	due	due	ADP
dem-11858	51	2	to	to	ADP
dem-11858	51	3	the	the	DET
dem-11858	51	4	interest	interest	NOUN
dem-11858	51	5	nature	nature	NOUN
dem-11858	51	6	of	of	ADP
dem-11858	51	7	debt	debt	NOUN
dem-11858	51	8	instruments	instrument	NOUN
dem-11858	51	9	,	,	PUNCT
dem-11858	51	10	using	use	VERB
dem-11858	51	11	the	the	DET
dem-11858	51	12	rates	rate	NOUN
dem-11858	51	13	of	of	ADP
dem-11858	51	14	return	return	NOUN
dem-11858	51	15	from	from	ADP
dem-11858	51	16	their	their	PRON
dem-11858	51	17	prices	price	NOUN
dem-11858	51	18	could	could	AUX
dem-11858	51	19	result	result	VERB
dem-11858	51	20	in	in	ADP
dem-11858	51	21	drawing	draw	VERB
dem-11858	51	22	the	the	DET
dem-11858	51	23	wrong	wrong	ADJ
dem-11858	51	24	conclusions	conclusion	NOUN
dem-11858	51	25	.	.	PUNCT
dem-11858	52	1	yield	yield	VERB
dem-11858	52	2	spreads	spread	NOUN
dem-11858	52	3	of	of	ADP
dem-11858	52	4	ten	ten	NUM
dem-11858	52	5	-	-	PUNCT
dem-11858	52	6	year	year	NOUN
dem-11858	52	7	treasury	treasury	NOUN
dem-11858	52	8	bonds	bond	NOUN
dem-11858	52	9	issued	issue	VERB
dem-11858	52	10	by	by	ADP
dem-11858	52	11	the	the	DET
dem-11858	52	12	twenty	twenty	NUM
dem-11858	52	13	-	-	PUNCT
dem-11858	52	14	seven	seven	NUM
dem-11858	52	15	european	european	ADJ
dem-11858	52	16	economies	economy	NOUN
dem-11858	52	17	have	have	AUX
dem-11858	52	18	been	be	AUX
dem-11858	52	19	calculated	calculate	VERB
dem-11858	52	20	as	as	ADP
dem-11858	52	21	the	the	DET
dem-11858	52	22	difference	difference	NOUN
dem-11858	52	23	between	between	ADP
dem-11858	52	24	the	the	DET
dem-11858	52	25	yields	yield	NOUN
dem-11858	52	26	of	of	ADP
dem-11858	52	27	government	government	NOUN
dem-11858	52	28	bonds	bond	NOUN
dem-11858	52	29	issued	issue	VERB
dem-11858	52	30	by	by	ADP
dem-11858	52	31	a	a	DET
dem-11858	52	32	given	give	VERB
dem-11858	52	33	economy	economy	NOUN
dem-11858	52	34	and	and	CCONJ
dem-11858	52	35	the	the	DET
dem-11858	52	36	rate	rate	NOUN
dem-11858	52	37	of	of	ADP
dem-11858	52	38	return	return	NOUN
dem-11858	52	39	of	of	ADP
dem-11858	52	40	another	another	DET
dem-11858	52	41	risk	risk	NOUN
dem-11858	52	42	-	-	PUNCT
dem-11858	52	43	free	free	ADJ
dem-11858	52	44	debt	debt	NOUN
dem-11858	52	45	instrument	instrument	NOUN
dem-11858	52	46	,	,	PUNCT
dem-11858	52	47	in	in	ADP
dem-11858	52	48	this	this	DET
dem-11858	52	49	case	case	NOUN
dem-11858	52	50	the	the	DET
dem-11858	52	51	german	german	ADJ
dem-11858	52	52	ten	ten	NUM
dem-11858	52	53	-	-	PUNCT
dem-11858	52	54	year	year	NOUN
dem-11858	52	55	treasury	treasury	NOUN
dem-11858	52	56	bond	bond	NOUN
dem-11858	52	57	(	(	PUNCT
dem-11858	52	58	see	see	VERB
dem-11858	52	59	also	also	ADV
dem-11858	52	60	hull	hull	NOUN
dem-11858	52	61	,	,	PUNCT
dem-11858	52	62	2011	2011	NUM
dem-11858	52	63	,	,	PUNCT
dem-11858	52	64	p.	p.	NOUN
dem-11858	52	65	392	392	NUM
dem-11858	52	66	)	)	PUNCT
dem-11858	52	67	.	.	PUNCT
dem-11858	53	1	the	the	DET
dem-11858	53	2	empirical	empirical	ADJ
dem-11858	53	3	analysis	analysis	NOUN
dem-11858	53	4	concerning	concern	VERB
dem-11858	53	5	an	an	DET
dem-11858	53	6	occurrence	occurrence	NOUN
dem-11858	53	7	of	of	ADP
dem-11858	53	8	the	the	DET
dem-11858	53	9	process	process	NOUN
dem-11858	53	10	of	of	ADP
dem-11858	53	11	convergence	convergence	NOUN
dem-11858	53	12	of	of	ADP
dem-11858	53	13	long	long	ADJ
dem-11858	53	14	-	-	PUNCT
dem-11858	53	15	term	term	NOUN
dem-11858	53	16	interest	interest	NOUN
dem-11858	53	17	rates	rate	NOUN
dem-11858	53	18	in	in	ADP
dem-11858	53	19	the	the	DET
dem-11858	53	20	european	european	PROPN
dem-11858	53	21	union	union	PROPN
dem-11858	53	22	and	and	CCONJ
dem-11858	53	23	establishment	establishment	NOUN
dem-11858	53	24	of	of	ADP
dem-11858	53	25	the	the	DET
dem-11858	53	26	impact	impact	NOUN
dem-11858	53	27	of	of	ADP
dem-11858	53	28	individual	individual	ADJ
dem-11858	53	29	countries	country	NOUN
dem-11858	53	30	on	on	ADP
dem-11858	53	31	this	this	DET
dem-11858	53	32	process	process	NOUN
dem-11858	53	33	were	be	AUX
dem-11858	53	34	carried	carry	VERB
dem-11858	53	35	out	out	ADP
dem-11858	53	36	the	the	DET
dem-11858	53	37	share	share	NOUN
dem-11858	53	38	of	of	ADP
dem-11858	53	39	european	european	ADJ
dem-11858	53	40	economies	economy	NOUN
dem-11858	53	41	in	in	ADP
dem-11858	53	42	the	the	DET
dem-11858	53	43	process	process	NOUN
dem-11858	53	44	of	of	ADP
dem-11858	53	45	convergence	convergence	NOUN
dem-11858	53	46	…	…	SYM
dem-11858	53	47	dynamic	dynamic	ADJ
dem-11858	53	48	econometric	econometric	ADJ
dem-11858	53	49	models	model	NOUN
dem-11858	53	50	16	16	NUM
dem-11858	53	51	(	(	PUNCT
dem-11858	53	52	2016	2016	NUM
dem-11858	53	53	)	)	PUNCT
dem-11858	53	54	165–187	165–187	NUM
dem-11858	53	55	169	169	NUM
dem-11858	53	56	on	on	ADP
dem-11858	53	57	the	the	DET
dem-11858	53	58	basis	basis	NOUN
dem-11858	53	59	of	of	ADP
dem-11858	53	60	monthly	monthly	ADJ
dem-11858	53	61	data	datum	NOUN
dem-11858	53	62	.	.	PUNCT
dem-11858	54	1	in	in	ADP
dem-11858	54	2	order	order	NOUN
dem-11858	54	3	to	to	PART
dem-11858	54	4	take	take	VERB
dem-11858	54	5	into	into	ADP
dem-11858	54	6	account	account	NOUN
dem-11858	54	7	the	the	DET
dem-11858	54	8	impact	impact	NOUN
dem-11858	54	9	of	of	ADP
dem-11858	54	10	the	the	DET
dem-11858	54	11	global	global	ADJ
dem-11858	54	12	financial	financial	ADJ
dem-11858	54	13	crisis	crisis	NOUN
dem-11858	54	14	and	and	CCONJ
dem-11858	54	15	the	the	DET
dem-11858	54	16	debt	debt	NOUN
dem-11858	54	17	crisis	crisis	NOUN
dem-11858	54	18	on	on	ADP
dem-11858	54	19	the	the	DET
dem-11858	54	20	analysed	analyse	VERB
dem-11858	54	21	phenomenon	phenomenon	NOUN
dem-11858	54	22	,	,	PUNCT
dem-11858	54	23	the	the	DET
dem-11858	54	24	time	time	NOUN
dem-11858	54	25	range	range	NOUN
dem-11858	54	26	of	of	ADP
dem-11858	54	27	the	the	DET
dem-11858	54	28	study	study	NOUN
dem-11858	54	29	was	be	AUX
dem-11858	54	30	divided	divide	VERB
dem-11858	54	31	into	into	ADP
dem-11858	54	32	two	two	NUM
dem-11858	54	33	sub	sub	NOUN
dem-11858	54	34	-	-	ADJ
dem-11858	54	35	periods	period	NOUN
dem-11858	54	36	,	,	PUNCT
dem-11858	54	37	i.e.	i.e.	X
dem-11858	54	38	the	the	DET
dem-11858	54	39	period	period	NOUN
dem-11858	54	40	between	between	ADP
dem-11858	54	41	01.200612.2010	01.200612.2010	NOUN
dem-11858	54	42	and	and	CCONJ
dem-11858	54	43	01.201111.2016	01.201111.2016	NUM
dem-11858	54	44	.	.	PUNCT
dem-11858	55	1	the	the	DET
dem-11858	55	2	data	datum	NOUN
dem-11858	55	3	was	be	AUX
dem-11858	55	4	obtained	obtain	VERB
dem-11858	55	5	from	from	ADP
dem-11858	55	6	the	the	DET
dem-11858	55	7	eurostat	eurostat	PROPN
dem-11858	55	8	and	and	CCONJ
dem-11858	55	9	the	the	DET
dem-11858	55	10	world	world	NOUN
dem-11858	55	11	bank	bank	NOUN
dem-11858	55	12	databases	database	NOUN
dem-11858	55	13	.	.	PUNCT
dem-11858	56	1	the	the	DET
dem-11858	56	2	calculations	calculation	NOUN
dem-11858	56	3	were	be	AUX
dem-11858	56	4	performed	perform	VERB
dem-11858	56	5	using	use	VERB
dem-11858	56	6	the	the	DET
dem-11858	56	7	r	r	NOUN
dem-11858	56	8	-	-	PUNCT
dem-11858	56	9	cran	cran	NOUN
dem-11858	56	10	(	(	PUNCT
dem-11858	56	11	version	version	NOUN
dem-11858	56	12	3.2.5	3.2.5	NUM
dem-11858	56	13	)	)	PUNCT
dem-11858	56	14	,	,	PUNCT
dem-11858	56	15	while	while	SCONJ
dem-11858	56	16	the	the	DET
dem-11858	56	17	drawings	drawing	NOUN
dem-11858	56	18	were	be	AUX
dem-11858	56	19	prepared	prepare	VERB
dem-11858	56	20	with	with	ADP
dem-11858	56	21	the	the	DET
dem-11858	56	22	use	use	NOUN
dem-11858	56	23	of	of	ADP
dem-11858	56	24	mapviewer	mapviewer	NOUN
dem-11858	56	25	.	.	PUNCT
dem-11858	57	1	2	2	X
dem-11858	57	2	.	.	X
dem-11858	57	3	methodology	methodology	NOUN
dem-11858	57	4	the	the	DET
dem-11858	57	5	verification	verification	NOUN
dem-11858	57	6	of	of	ADP
dem-11858	57	7	an	an	DET
dem-11858	57	8	occurrence	occurrence	NOUN
dem-11858	57	9	of	of	ADP
dem-11858	57	10	equalising	equalising	NOUN
dem-11858	57	11	levels	level	NOUN
dem-11858	57	12	of	of	ADP
dem-11858	57	13	spreads	spread	NOUN
dem-11858	57	14	of	of	ADP
dem-11858	57	15	government	government	NOUN
dem-11858	57	16	bonds	bond	NOUN
dem-11858	57	17	was	be	AUX
dem-11858	57	18	based	base	VERB
dem-11858	57	19	on	on	ADP
dem-11858	57	20	the	the	DET
dem-11858	57	21	use	use	NOUN
dem-11858	57	22	of	of	ADP
dem-11858	57	23	the	the	DET
dem-11858	57	24	panel	panel	NOUN
dem-11858	57	25	data	datum	NOUN
dem-11858	57	26	model	model	NOUN
dem-11858	57	27	,	,	PUNCT
dem-11858	57	28	which	which	PRON
dem-11858	57	29	takes	take	VERB
dem-11858	57	30	into	into	ADP
dem-11858	57	31	account	account	NOUN
dem-11858	57	32	individual	individual	ADJ
dem-11858	57	33	effects	effect	NOUN
dem-11858	57	34	(	(	PUNCT
dem-11858	57	35	see	see	VERB
dem-11858	57	36	e.g.	e.g.	ADV
dem-11858	57	37	dańska	dańska	ADJ
dem-11858	57	38	-	-	PUNCT
dem-11858	57	39	borsiak	borsiak	NOUN
dem-11858	57	40	,	,	PUNCT
dem-11858	57	41	2011	2011	NUM
dem-11858	57	42	;	;	PUNCT
dem-11858	57	43	suchecki	suchecki	NOUN
dem-11858	57	44	(	(	PUNCT
dem-11858	57	45	ed	ed	NOUN
dem-11858	57	46	.	.	PUNCT
dem-11858	57	47	)	)	PUNCT
dem-11858	57	48	,	,	PUNCT
dem-11858	57	49	2012	2012	NUM
dem-11858	57	50	)	)	PUNCT
dem-11858	57	51	.	.	PUNCT
dem-11858	58	1	the	the	DET
dem-11858	58	2	said	say	VERB
dem-11858	58	3	model	model	NOUN
dem-11858	58	4	takes	take	VERB
dem-11858	58	5	the	the	DET
dem-11858	58	6	following	follow	VERB
dem-11858	58	7	form	form	NOUN
dem-11858	58	8	(	(	PUNCT
dem-11858	58	9	fe_ind	fe_ind	NOUN
dem-11858	58	10	):	):	PUNCT
dem-11858	58	11	,	,	PUNCT
dem-11858	58	12	1	1	NUM
dem-11858	58	13	1	1	NUM
dem-11858	58	14	ititi	ititi	NOUN
dem-11858	58	15	it	it	PRON
dem-11858	59	1	it	it	PRON
dem-11858	59	2	s	s	VERB
dem-11858	59	3	s	s	NOUN
dem-11858	59	4	s	s	NOUN
dem-11858	59	5			PROPN
dem-11858	59	6			SYM
dem-11858	59	7			PROPN
dem-11858	59	8			PRON
dem-11858	59	9			NOUN
dem-11858	59	10			VERB
dem-11858	59	11			PROPN
dem-11858	59	12			PROPN
dem-11858	59	13			NOUN
dem-11858	59	14	(	(	PUNCT
dem-11858	59	15	1	1	NUM
dem-11858	59	16	)	)	PUNCT
dem-11858	59	17	where	where	SCONJ
dem-11858	59	18	:	:	PUNCT
dem-11858	59	19	i	i	X
dem-11858	59	20	–	–	PUNCT
dem-11858	59	21	individual	individual	ADJ
dem-11858	59	22	characteristic	characteristic	NOUN
dem-11858	59	23	of	of	ADP
dem-11858	59	24	the	the	DET
dem-11858	59	25	issuer	issuer	NOUN
dem-11858	59	26	,	,	PUNCT
dem-11858	59	27	its	its	PRON
dem-11858	59	28	–	–	PUNCT
dem-11858	59	29	value	value	NOUN
dem-11858	59	30	of	of	ADP
dem-11858	59	31	the	the	DET
dem-11858	59	32	spread	spread	NOUN
dem-11858	59	33	of	of	ADP
dem-11858	59	34	interest	interest	NOUN
dem-11858	59	35	rate	rate	NOUN
dem-11858	59	36	of	of	ADP
dem-11858	59	37	government	government	NOUN
dem-11858	59	38	bonds	bond	NOUN
dem-11858	59	39	in	in	ADP
dem-11858	59	40	country	country	NOUN
dem-11858	59	41	i	i	PRON
dem-11858	59	42	in	in	ADP
dem-11858	59	43	period	period	NOUN
dem-11858	59	44	t	t	PROPN
dem-11858	59	45	(	(	PUNCT
dem-11858	59	46	benchmark	benchmark	PROPN
dem-11858	59	47	–	–	PUNCT
dem-11858	59	48	germany	germany	PROPN
dem-11858	59	49	)	)	PUNCT
dem-11858	59	50	,	,	PUNCT
dem-11858	59	51	1its	1its	NUM
dem-11858	59	52	–	–	PUNCT
dem-11858	59	53	value	value	NOUN
dem-11858	59	54	of	of	ADP
dem-11858	59	55	the	the	DET
dem-11858	59	56	spread	spread	NOUN
dem-11858	59	57	of	of	ADP
dem-11858	59	58	interest	interest	NOUN
dem-11858	59	59	rate	rate	NOUN
dem-11858	59	60	of	of	ADP
dem-11858	59	61	government	government	NOUN
dem-11858	59	62	bonds	bond	NOUN
dem-11858	59	63	in	in	ADP
dem-11858	59	64	country	country	NOUN
dem-11858	59	65	i	i	PRON
dem-11858	59	66	in	in	ADP
dem-11858	59	67	period	period	NOUN
dem-11858	59	68	t	t	PROPN
dem-11858	59	69	–	–	PUNCT
dem-11858	59	70	1	1	X
dem-11858	59	71	.	.	PUNCT
dem-11858	59	72	model	model	NOUN
dem-11858	59	73	(	(	PUNCT
dem-11858	59	74	1	1	X
dem-11858	59	75	)	)	PUNCT
dem-11858	59	76	was	be	AUX
dem-11858	59	77	extended	extend	VERB
dem-11858	59	78	by	by	ADP
dem-11858	59	79	introducing	introduce	VERB
dem-11858	59	80	the	the	DET
dem-11858	59	81	connections	connection	NOUN
dem-11858	59	82	described	describe	VERB
dem-11858	59	83	by	by	ADP
dem-11858	59	84	the	the	DET
dem-11858	59	85	connectivity	connectivity	NOUN
dem-11858	59	86	matrix	matrix	NOUN
dem-11858	59	87	based	base	VERB
dem-11858	59	88	on	on	ADP
dem-11858	59	89	an	an	DET
dem-11858	59	90	economic	economic	ADJ
dem-11858	59	91	distance	distance	NOUN
dem-11858	59	92	.	.	PUNCT
dem-11858	60	1	the	the	DET
dem-11858	60	2	inclusion	inclusion	NOUN
dem-11858	60	3	of	of	ADP
dem-11858	60	4	these	these	DET
dem-11858	60	5	links	link	NOUN
dem-11858	60	6	modifies	modify	VERB
dem-11858	60	7	the	the	DET
dem-11858	60	8	formula	formula	NOUN
dem-11858	60	9	(	(	PUNCT
dem-11858	60	10	1	1	NUM
dem-11858	60	11	)	)	PUNCT
dem-11858	60	12	to	to	PART
dem-11858	60	13	take	take	VERB
dem-11858	60	14	the	the	DET
dem-11858	60	15	following	follow	VERB
dem-11858	60	16	form	form	NOUN
dem-11858	60	17	(	(	PUNCT
dem-11858	60	18	sar_fe_ind	sar_fe_ind	NUM
dem-11858	60	19	):	):	PUNCT
dem-11858	60	20	,	,	PUNCT
dem-11858	60	21	1	1	NUM
dem-11858	60	22	,	,	PUNCT
dem-11858	60	23	1	1	NUM
dem-11858	60	24	1	1	NUM
dem-11858	60	25	it	it	PRON
dem-11858	60	26	ij	ij	INTJ
dem-11858	60	27	it	it	PRON
dem-11858	61	1	it	it	PRON
dem-11858	61	2	tijiti	tijiti	INTJ
dem-11858	61	3	it	it	PRON
dem-11858	62	1	it	it	PRON
dem-11858	62	2	s	s	VERB
dem-11858	62	3	s	s	NOUN
dem-11858	62	4	ws	ws	NOUN
dem-11858	62	5	s	s	PROPN
dem-11858	62	6	s	s	NOUN
dem-11858	62	7			X
dem-11858	62	8			X
dem-11858	62	9			VERB
dem-11858	62	10			PROPN
dem-11858	62	11			PROPN
dem-11858	62	12			PROPN
dem-11858	62	13			NOUN
dem-11858	62	14			PROPN
dem-11858	62	15			X
dem-11858	62	16			NOUN
dem-11858	62	17			VERB
dem-11858	62	18			PROPN
dem-11858	62	19			PROPN
dem-11858	62	20			PROPN
dem-11858	62	21			PRON
dem-11858	62	22			NOUN
dem-11858	62	23			X
dem-11858	62	24			PROPN
dem-11858	62	25	(	(	PUNCT
dem-11858	62	26	2	2	NUM
dem-11858	62	27	)	)	PUNCT
dem-11858	63	1	where	where	SCONJ
dem-11858	63	2	:	:	PUNCT
dem-11858	63	3			NOUN
dem-11858	63	4	–	–	PUNCT
dem-11858	63	5	parameter	parameter	NOUN
dem-11858	63	6	constituting	constitute	VERB
dem-11858	63	7	the	the	DET
dem-11858	63	8	average	average	ADJ
dem-11858	63	9	value	value	NOUN
dem-11858	63	10	of	of	ADP
dem-11858	63	11	the	the	DET
dem-11858	63	12	effect	effect	NOUN
dem-11858	63	13	of	of	ADP
dem-11858	63	14	"	"	PUNCT
dem-11858	63	15	neighbouring	neighbouring	ADJ
dem-11858	63	16	"	"	PUNCT
dem-11858	63	17	issuers	issuer	NOUN
dem-11858	63	18	for	for	ADP
dem-11858	63	19	country	country	NOUN
dem-11858	63	20	(	(	PUNCT
dem-11858	63	21	the	the	DET
dem-11858	63	22	statistical	statistical	ADJ
dem-11858	63	23	significance	significance	NOUN
dem-11858	63	24	means	mean	VERB
dem-11858	63	25	that	that	SCONJ
dem-11858	63	26	there	there	PRON
dem-11858	63	27	is	be	VERB
dem-11858	63	28	a	a	DET
dem-11858	63	29	relation	relation	NOUN
dem-11858	63	30	between	between	ADP
dem-11858	63	31	the	the	DET
dem-11858	63	32	values	value	NOUN
dem-11858	63	33	of	of	ADP
dem-11858	63	34	spread	spread	NOUN
dem-11858	63	35	for	for	ADP
dem-11858	63	36	a	a	DET
dem-11858	63	37	given	give	VERB
dem-11858	63	38	country	country	NOUN
dem-11858	63	39	and	and	CCONJ
dem-11858	63	40	the	the	DET
dem-11858	63	41	values	value	NOUN
dem-11858	63	42	of	of	ADP
dem-11858	63	43	spread	spread	NOUN
dem-11858	63	44	in	in	ADP
dem-11858	63	45	countries	country	NOUN
dem-11858	63	46	with	with	ADP
dem-11858	63	47	similar	similar	ADJ
dem-11858	63	48	characteristics	characteristic	NOUN
dem-11858	63	49	in	in	ADP
dem-11858	63	50	terms	term	NOUN
dem-11858	63	51	of	of	ADP
dem-11858	63	52	specific	specific	ADJ
dem-11858	63	53	economic	economic	ADJ
dem-11858	63	54	characteristics	characteristic	NOUN
dem-11858	63	55	)	)	PUNCT
dem-11858	63	56	,	,	PUNCT
dem-11858	63	57	ijw	ijw	NOUN
dem-11858	63	58	–	–	PUNCT
dem-11858	63	59	element	element	NOUN
dem-11858	63	60	of	of	ADP
dem-11858	63	61	the	the	DET
dem-11858	63	62	connectivity	connectivity	NOUN
dem-11858	63	63	matrix	matrix	NOUN
dem-11858	63	64	which	which	PRON
dem-11858	63	65	defines	define	VERB
dem-11858	63	66	the	the	DET
dem-11858	63	67	connection	connection	NOUN
dem-11858	63	68	between	between	ADP
dem-11858	63	69	country	country	NOUN
dem-11858	63	70	i	i	PROPN
dem-11858	63	71	and	and	CCONJ
dem-11858	63	72	j.	j.	PROPN
dem-11858	63	73	elżbieta	elżbieta	PROPN
dem-11858	63	74	szulc	szulc	PROPN
dem-11858	63	75	,	,	PUNCT
dem-11858	63	76	dagna	dagna	VERB
dem-11858	63	77	wleklińska	wleklińska	NOUN
dem-11858	63	78	,	,	PUNCT
dem-11858	63	79	karolina	karolina	PROPN
dem-11858	63	80	górna	górna	PROPN
dem-11858	63	81	dynamic	dynamic	ADJ
dem-11858	63	82	econometric	econometric	ADJ
dem-11858	63	83	models	model	NOUN
dem-11858	63	84	16	16	NUM
dem-11858	63	85	(	(	PUNCT
dem-11858	63	86	2016	2016	NUM
dem-11858	63	87	)	)	PUNCT
dem-11858	63	88	165–187	165–187	NUM
dem-11858	63	89	170	170	NUM
dem-11858	63	90	for	for	ADP
dem-11858	63	91	more	more	ADJ
dem-11858	63	92	details	detail	NOUN
dem-11858	63	93	on	on	ADP
dem-11858	63	94	the	the	DET
dem-11858	63	95	classes	class	NOUN
dem-11858	63	96	of	of	ADP
dem-11858	63	97	models	model	NOUN
dem-11858	63	98	see	see	VERB
dem-11858	63	99	e.g.	e.g.	ADV
dem-11858	63	100	suchecki	suchecki	NOUN
dem-11858	63	101	(	(	PUNCT
dem-11858	63	102	ed	ed	NOUN
dem-11858	63	103	.	.	PUNCT
dem-11858	63	104	)	)	PUNCT
dem-11858	64	1	(	(	PUNCT
dem-11858	64	2	2012	2012	NUM
dem-11858	64	3	)	)	PUNCT
dem-11858	64	4	.	.	PUNCT
dem-11858	65	1	the	the	DET
dem-11858	65	2	same	same	ADJ
dem-11858	65	3	classes	class	NOUN
dem-11858	65	4	of	of	ADP
dem-11858	65	5	models	model	NOUN
dem-11858	65	6	,	,	PUNCT
dem-11858	65	7	among	among	ADP
dem-11858	65	8	others	other	NOUN
dem-11858	65	9	,	,	PUNCT
dem-11858	65	10	were	be	AUX
dem-11858	65	11	used	use	VERB
dem-11858	65	12	in	in	ADP
dem-11858	65	13	szulc	szulc	PROPN
dem-11858	65	14	et	et	PROPN
dem-11858	65	15	al	al	PROPN
dem-11858	65	16	.	.	PROPN
dem-11858	66	1	(	(	PUNCT
dem-11858	66	2	2014	2014	NUM
dem-11858	66	3	)	)	PUNCT
dem-11858	66	4	and	and	CCONJ
dem-11858	66	5	szulc	szulc	PROPN
dem-11858	66	6	,	,	PUNCT
dem-11858	66	7	wleklińska	wleklińska	NOUN
dem-11858	66	8	(	(	PUNCT
dem-11858	66	9	2015	2015	NUM
dem-11858	66	10	)	)	PUNCT
dem-11858	66	11	.	.	PUNCT
dem-11858	67	1	the	the	DET
dem-11858	67	2	matrix	matrix	NOUN
dem-11858	67	3	of	of	ADP
dem-11858	67	4	an	an	DET
dem-11858	67	5	economic	economic	ADJ
dem-11858	67	6	distance	distance	NOUN
dem-11858	67	7	used	use	VERB
dem-11858	67	8	in	in	ADP
dem-11858	67	9	the	the	DET
dem-11858	67	10	analysis	analysis	NOUN
dem-11858	67	11	that	that	PRON
dem-11858	67	12	comprises	comprise	VERB
dem-11858	67	13	links	link	NOUN
dem-11858	67	14	that	that	PRON
dem-11858	67	15	vary	vary	VERB
dem-11858	67	16	in	in	ADP
dem-11858	67	17	time	time	NOUN
dem-11858	67	18	is	be	AUX
dem-11858	67	19	a	a	DET
dem-11858	67	20	symmetric	symmetric	ADJ
dem-11858	67	21	block	block	NOUN
dem-11858	67	22	diagonal	diagonal	ADJ
dem-11858	67	23	matrix	matrix	NOUN
dem-11858	67	24	of	of	ADP
dem-11858	67	25	the	the	DET
dem-11858	67	26	following	follow	VERB
dem-11858	67	27	form	form	NOUN
dem-11858	67	28	:	:	PUNCT
dem-11858	67	29			ADJ
dem-11858	67	30			NOUN
dem-11858	67	31	,	,	PUNCT
dem-11858	67	32	*	*	PUNCT
dem-11858	68	1	*	*	PUNCT
dem-11858	68	2	*	*	PUNCT
dem-11858	68	3	1	1	NUM
dem-11858	68	4	*	*	PUNCT
dem-11858	68	5	,	,	PUNCT
dem-11858	68	6	*	*	PUNCT
dem-11858	68	7	ntntt	ntntt	NOUN
dem-11858	68	8	tntnttijd	tntnttijd	NOUN
dem-11858	68	9			PROPN
dem-11858	68	10			PROPN
dem-11858	68	11			PROPN
dem-11858	68	12			PROPN
dem-11858	69	1			PUNCT
dem-11858	69	2			PUNCT
dem-11858	70	1			NOUN
dem-11858	70	2			PROPN
dem-11858	70	3			PROPN
dem-11858	70	4			X
dem-11858	70	5			NOUN
dem-11858	70	6			NOUN
dem-11858	70	7			NOUN
dem-11858	70	8			NOUN
dem-11858	70	9			NOUN
dem-11858	70	10			NOUN
dem-11858	70	11			NOUN
dem-11858	70	12			PROPN
dem-11858	70	13			NUM
dem-11858	70	14	d0	d0	NOUN
dem-11858	70	15	d	d	NOUN
dem-11858	70	16	0d	0d	X
dem-11858	71	1	d	d	X
dem-11858	71	2			NOUN
dem-11858	71	3			NOUN
dem-11858	71	4			ADP
dem-11858	71	5			NOUN
dem-11858	71	6	(	(	PUNCT
dem-11858	71	7	3	3	NUM
dem-11858	71	8	)	)	PUNCT
dem-11858	71	9			NOUN
dem-11858	71	10			NOUN
dem-11858	71	11	nntijt	nntijt	PROPN
dem-11858	71	12	d	d	PROPN
dem-11858	71	13			NOUN
dem-11858	71	14			PROPN
dem-11858	71	15	*	*	PUNCT
dem-11858	71	16	,	,	PUNCT
dem-11858	71	17	*	*	PUNCT
dem-11858	71	18	d	d	NOUN
dem-11858	71	19	,	,	PUNCT
dem-11858	71	20	for	for	ADP
dem-11858	71	21	t	t	NOUN
dem-11858	71	22	=	=	SYM
dem-11858	71	23	1	1	NUM
dem-11858	71	24	,	,	PUNCT
dem-11858	71	25	2	2	NUM
dem-11858	71	26	,	,	PUNCT
dem-11858	71	27	…	…	PUNCT
dem-11858	71	28	,	,	PUNCT
dem-11858	71	29	t.	t.	NOUN
dem-11858	71	30	(	(	PUNCT
dem-11858	71	31	4	4	NUM
dem-11858	71	32	)	)	PUNCT
dem-11858	71	33	the	the	DET
dem-11858	71	34	particular	particular	ADJ
dem-11858	71	35	elements	element	NOUN
dem-11858	71	36	of	of	ADP
dem-11858	71	37	matrix	matrix	NOUN
dem-11858	71	38			PROPN
dem-11858	72	1	d	d	NOUN
dem-11858	72	2	which	which	PRON
dem-11858	72	3	define	define	VERB
dem-11858	72	4	the	the	DET
dem-11858	72	5	economic	economic	ADJ
dem-11858	72	6	distance	distance	NOUN
dem-11858	72	7	between	between	ADP
dem-11858	72	8	pairs	pair	NOUN
dem-11858	72	9	of	of	ADP
dem-11858	72	10	objects	object	NOUN
dem-11858	72	11	,	,	PUNCT
dem-11858	72	12	in	in	ADP
dem-11858	72	13	general	general	ADJ
dem-11858	72	14	release	release	NOUN
dem-11858	72	15	,	,	PUNCT
dem-11858	72	16	can	can	AUX
dem-11858	72	17	be	be	AUX
dem-11858	72	18	described	describe	VERB
dem-11858	72	19	by	by	ADP
dem-11858	72	20	the	the	DET
dem-11858	72	21	formula	formula	NOUN
dem-11858	72	22	:	:	PUNCT
dem-11858	72	23	,	,	PUNCT
dem-11858	72	24	1	1	NUM
dem-11858	72	25	1	1	NUM
dem-11858	72	26	0	0	NUM
dem-11858	72	27	,	,	PUNCT
dem-11858	72	28	,	,	PUNCT
dem-11858	72	29	,	,	PUNCT
dem-11858	72	30	,	,	PUNCT
dem-11858	72	31	*	*	PUNCT
dem-11858	72	32	,	,	PUNCT
dem-11858	72	33			ADV
dem-11858	72	34			NUM
dem-11858	72	35			NOUN
dem-11858	72	36			NOUN
dem-11858	72	37			VERB
dem-11858	72	38			PROPN
dem-11858	72	39	px	px	NOUN
dem-11858	72	40	px	px	PROPN
dem-11858	73	1	p	p	PROPN
dem-11858	73	2	k	k	PROPN
dem-11858	73	3	r	r	NOUN
dem-11858	73	4	rtjprtip	rtjprtip	NOUN
dem-11858	74	1	p	p	NOUN
dem-11858	74	2	x	x	PUNCT
dem-11858	74	3	tij	tij	NOUN
dem-11858	74	4	xx	xx	NUM
dem-11858	75	1	k	k	PROPN
dem-11858	76	1	d	d	X
dem-11858	76	2			NUM
dem-11858	76	3	(	(	PUNCT
dem-11858	76	4	5	5	NUM
dem-11858	76	5	)	)	PUNCT
dem-11858	76	6	where	where	SCONJ
dem-11858	76	7	:	:	PUNCT
dem-11858	76	8	rtipx	rtipx	VERB
dem-11858	76	9			NOUN
dem-11858	76	10	,	,	PUNCT
dem-11858	76	11	,	,	PUNCT
dem-11858	76	12	–	–	PUNCT
dem-11858	76	13	value	value	NOUN
dem-11858	76	14	of	of	ADP
dem-11858	76	15	the	the	DET
dem-11858	76	16	variable	variable	NOUN
dem-11858	76	17	which	which	PRON
dem-11858	76	18	is	be	AUX
dem-11858	76	19	the	the	DET
dem-11858	76	20	basis	basis	NOUN
dem-11858	76	21	for	for	ADP
dem-11858	76	22	the	the	DET
dem-11858	76	23	evaluation	evaluation	NOUN
dem-11858	76	24	of	of	ADP
dem-11858	76	25	the	the	DET
dem-11858	76	26	difference	difference	NOUN
dem-11858	76	27	between	between	ADP
dem-11858	76	28	units	unit	NOUN
dem-11858	76	29	i	i	PRON
dem-11858	76	30	and	and	CCONJ
dem-11858	76	31	j	j	PROPN
dem-11858	76	32	in	in	ADP
dem-11858	76	33	period	period	NOUN
dem-11858	76	34	]	]	PUNCT
dem-11858	76	35	)	)	PUNCT
dem-11858	76	36	,	,	PUNCT
dem-11858	76	37	0	0	PUNCT
dem-11858	77	1	[	[	X
dem-11858	77	2	(	(	PUNCT
dem-11858	77	3	pxkrrt	pxkrrt	VERB
dem-11858	77	4			NUM
dem-11858	77	5	,	,	PUNCT
dem-11858	77	6	pxk	pxk	ADJ
dem-11858	77	7	–	–	PUNCT
dem-11858	77	8	value	value	NOUN
dem-11858	77	9	of	of	ADP
dem-11858	77	10	the	the	DET
dem-11858	77	11	time	time	NOUN
dem-11858	77	12	lag	lag	NOUN
dem-11858	77	13	of	of	ADP
dem-11858	77	14	variable	variable	ADJ
dem-11858	77	15	px	px	NOUN
dem-11858	77	16	,	,	PUNCT
dem-11858	77	17	px	px	NOUN
dem-11858	77	18	–	–	PUNCT
dem-11858	77	19	normalising	normalise	VERB
dem-11858	77	20	parameter	parameter	NOUN
dem-11858	77	21	(	(	PUNCT
dem-11858	77	22	along	along	ADP
dem-11858	77	23	with	with	ADP
dem-11858	77	24	an	an	DET
dem-11858	77	25	increase	increase	NOUN
dem-11858	77	26	of	of	ADP
dem-11858	77	27	the	the	DET
dem-11858	77	28	delta	delta	NOUN
dem-11858	77	29	of	of	ADP
dem-11858	77	30	the	the	DET
dem-11858	77	31	normalising	normalising	ADJ
dem-11858	77	32	parameter	parameter	NOUN
dem-11858	77	33	,	,	PUNCT
dem-11858	77	34	the	the	DET
dem-11858	77	35	relationships	relationship	NOUN
dem-11858	77	36	between	between	ADP
dem-11858	77	37	objects	object	NOUN
dem-11858	77	38	of	of	ADP
dem-11858	77	39	a	a	DET
dem-11858	77	40	greater	great	ADJ
dem-11858	77	41	similarity	similarity	NOUN
dem-11858	77	42	grow	grow	VERB
dem-11858	77	43	)	)	PUNCT
dem-11858	77	44	.	.	PUNCT
dem-11858	78	1	in	in	ADP
dem-11858	78	2	particular	particular	ADJ
dem-11858	78	3	the	the	DET
dem-11858	78	4	determination	determination	NOUN
dem-11858	78	5	of	of	ADP
dem-11858	78	6	an	an	DET
dem-11858	78	7	economic	economic	ADJ
dem-11858	78	8	distance	distance	NOUN
dem-11858	78	9	between	between	ADP
dem-11858	78	10	objects	object	NOUN
dem-11858	78	11	can	can	AUX
dem-11858	78	12	be	be	AUX
dem-11858	78	13	performed	perform	VERB
dem-11858	78	14	with	with	ADP
dem-11858	78	15	the	the	DET
dem-11858	78	16	use	use	NOUN
dem-11858	78	17	of	of	ADP
dem-11858	78	18	one	one	NUM
dem-11858	78	19	variable	variable	NOUN
dem-11858	78	20	.	.	PUNCT
dem-11858	79	1	in	in	ADP
dem-11858	79	2	the	the	DET
dem-11858	79	3	conducted	conduct	VERB
dem-11858	79	4	study	study	NOUN
dem-11858	79	5	the	the	DET
dem-11858	79	6	distance	distance	NOUN
dem-11858	79	7	was	be	AUX
dem-11858	79	8	determined	determine	VERB
dem-11858	79	9	based	base	VERB
dem-11858	79	10	on	on	ADP
dem-11858	79	11	the	the	DET
dem-11858	79	12	gdp	gdp	NOUN
dem-11858	79	13	debt	debt	NOUN
dem-11858	79	14	ratio	ratio	NOUN
dem-11858	79	15	.	.	PUNCT
dem-11858	80	1	the	the	DET
dem-11858	80	2	ratio	ratio	NOUN
dem-11858	80	3	of	of	ADP
dem-11858	80	4	debt	debt	NOUN
dem-11858	80	5	to	to	ADP
dem-11858	80	6	gross	gross	ADJ
dem-11858	80	7	domestic	domestic	ADJ
dem-11858	80	8	product	product	NOUN
dem-11858	80	9	is	be	AUX
dem-11858	80	10	one	one	NUM
dem-11858	80	11	of	of	ADP
dem-11858	80	12	the	the	DET
dem-11858	80	13	most	most	ADV
dem-11858	80	14	popular	popular	ADJ
dem-11858	80	15	indicators	indicator	NOUN
dem-11858	80	16	of	of	ADP
dem-11858	80	17	fiscal	fiscal	ADJ
dem-11858	80	18	stability	stability	NOUN
dem-11858	80	19	,	,	PUNCT
dem-11858	80	20	which	which	PRON
dem-11858	80	21	was	be	AUX
dem-11858	80	22	the	the	DET
dem-11858	80	23	basis	basis	NOUN
dem-11858	80	24	for	for	ADP
dem-11858	80	25	the	the	DET
dem-11858	80	26	formulation	formulation	NOUN
dem-11858	80	27	of	of	ADP
dem-11858	80	28	one	one	NUM
dem-11858	80	29	of	of	ADP
dem-11858	80	30	the	the	DET
dem-11858	80	31	assumptions	assumption	NOUN
dem-11858	80	32	contained	contain	VERB
dem-11858	80	33	in	in	ADP
dem-11858	80	34	the	the	DET
dem-11858	80	35	maastricht	maastricht	PROPN
dem-11858	80	36	treaty	treaty	NOUN
dem-11858	80	37	and	and	CCONJ
dem-11858	80	38	the	the	DET
dem-11858	80	39	stability	stability	NOUN
dem-11858	80	40	and	and	CCONJ
dem-11858	80	41	growth	growth	NOUN
dem-11858	80	42	pact	pact	NOUN
dem-11858	80	43	.	.	PUNCT
dem-11858	81	1	the	the	DET
dem-11858	81	2	elements	element	NOUN
dem-11858	81	3			PROPN
dem-11858	81	4	tijd	tijd	NOUN
dem-11858	81	5	,	,	PUNCT
dem-11858	81	6	take	take	VERB
dem-11858	81	7	the	the	DET
dem-11858	81	8	following	follow	VERB
dem-11858	81	9	form	form	NOUN
dem-11858	81	10	:	:	PUNCT
dem-11858	81	11	the	the	DET
dem-11858	81	12	share	share	NOUN
dem-11858	81	13	of	of	ADP
dem-11858	81	14	european	european	ADJ
dem-11858	81	15	economies	economy	NOUN
dem-11858	81	16	in	in	ADP
dem-11858	81	17	the	the	DET
dem-11858	81	18	process	process	NOUN
dem-11858	81	19	of	of	ADP
dem-11858	81	20	convergence	convergence	NOUN
dem-11858	81	21	…	…	SYM
dem-11858	81	22	dynamic	dynamic	ADJ
dem-11858	81	23	econometric	econometric	ADJ
dem-11858	81	24	models	model	NOUN
dem-11858	81	25	16	16	NUM
dem-11858	81	26	(	(	PUNCT
dem-11858	81	27	2016	2016	NUM
dem-11858	81	28	)	)	PUNCT
dem-11858	81	29	165–187	165–187	NUM
dem-11858	81	30	171	171	NUM
dem-11858	81	31	,	,	PUNCT
dem-11858	81	32	*	*	PUNCT
dem-11858	81	33	,	,	PUNCT
dem-11858	81	34	jt	jt	PROPN
dem-11858	81	35	jt	jt	PROPN
dem-11858	81	36	it	it	PRON
dem-11858	81	37	it	it	PRON
dem-11858	81	38	tij	tij	PROPN
dem-11858	81	39	gdp	gdp	PROPN
dem-11858	81	40	debt	debt	PROPN
dem-11858	81	41	gdp	gdp	PROPN
dem-11858	81	42	debt	debt	NOUN
dem-11858	81	43	d	d	PROPN
dem-11858	81	44			X
dem-11858	81	45	(	(	PUNCT
dem-11858	81	46	6	6	NUM
dem-11858	81	47	)	)	PUNCT
dem-11858	82	1	where	where	SCONJ
dem-11858	82	2	jt	jt	PROPN
dem-11858	82	3	jt	jt	PROPN
dem-11858	82	4	it	it	PRON
dem-11858	82	5	it	it	PRON
dem-11858	82	6	gdp	gdp	NOUN
dem-11858	82	7	debt	debt	PROPN
dem-11858	82	8	gdp	gdp	NOUN
dem-11858	82	9	debt	debt	NOUN
dem-11858	82	10	,	,	PUNCT
dem-11858	82	11	–	–	PUNCT
dem-11858	82	12	public	public	ADJ
dem-11858	82	13	debt	debt	NOUN
dem-11858	82	14	share	share	NOUN
dem-11858	82	15	in	in	ADP
dem-11858	82	16	gdp	gdp	NOUN
dem-11858	82	17	in	in	ADP
dem-11858	82	18	country	country	NOUN
dem-11858	82	19	i	i	PRON
dem-11858	82	20	and	and	CCONJ
dem-11858	82	21	j	j	PROPN
dem-11858	82	22	in	in	ADP
dem-11858	82	23	the	the	DET
dem-11858	82	24	period	period	NOUN
dem-11858	82	25	t.	t.	NOUN
dem-11858	82	26	subsequently	subsequently	ADV
dem-11858	82	27	,	,	PUNCT
dem-11858	82	28	the	the	DET
dem-11858	82	29	components	component	NOUN
dem-11858	82	30	of	of	ADP
dem-11858	82	31	matrix	matrix	NOUN
dem-11858	82	32			PROPN
dem-11858	83	1	d	d	NOUN
dem-11858	83	2	should	should	AUX
dem-11858	83	3	be	be	AUX
dem-11858	83	4	inversed	inverse	VERB
dem-11858	83	5	,	,	PUNCT
dem-11858	83	6	i.e.	i.e.	X
dem-11858	83	7	:	:	PUNCT
dem-11858	83	8	.	.	PUNCT
dem-11858	84	1	1	1	NUM
dem-11858	84	2	*	*	PUNCT
dem-11858	84	3	,	,	PUNCT
dem-11858	84	4	,	,	PUNCT
dem-11858	84	5	tij	tij	PROPN
dem-11858	84	6	tij	tij	PROPN
dem-11858	85	1	d	d	PROPN
dem-11858	86	1	d	d	X
dem-11858	86	2			PROPN
dem-11858	86	3	(	(	PUNCT
dem-11858	86	4	7	7	NUM
dem-11858	86	5	)	)	PUNCT
dem-11858	86	6	the	the	DET
dem-11858	86	7	connectivity	connectivity	NOUN
dem-11858	86	8	matrix	matrix	NOUN
dem-11858	86	9	must	must	AUX
dem-11858	86	10	be	be	AUX
dem-11858	86	11	row	row	ADV
dem-11858	86	12	standardized	standardized	ADJ
dem-11858	86	13	which	which	PRON
dem-11858	86	14	means	mean	VERB
dem-11858	86	15	that	that	SCONJ
dem-11858	86	16	the	the	DET
dem-11858	86	17	sum	sum	NOUN
dem-11858	86	18	of	of	ADP
dem-11858	86	19	every	every	DET
dem-11858	86	20	row	row	NOUN
dem-11858	86	21	should	should	AUX
dem-11858	86	22	be	be	AUX
dem-11858	86	23	equal	equal	ADJ
dem-11858	86	24	to	to	ADP
dem-11858	86	25	1	1	NUM
dem-11858	86	26	.	.	PUNCT
dem-11858	87	1	it	it	PRON
dem-11858	87	2	can	can	AUX
dem-11858	87	3	be	be	AUX
dem-11858	87	4	obtained	obtain	VERB
dem-11858	87	5	by	by	ADP
dem-11858	87	6	the	the	DET
dem-11858	87	7	following	follow	VERB
dem-11858	87	8	transformation	transformation	NOUN
dem-11858	87	9	:	:	PUNCT
dem-11858	87	10			X
dem-11858	88	1			NUM
dem-11858	88	2	j	j	NOUN
dem-11858	89	1	tij	tij	INTJ
dem-11858	89	2	tij	tij	PROPN
dem-11858	89	3	tij	tij	PROPN
dem-11858	90	1	d	d	PROPN
dem-11858	90	2	d	d	PROPN
dem-11858	90	3	w	w	PROPN
dem-11858	90	4	,	,	PUNCT
dem-11858	90	5	,	,	PUNCT
dem-11858	90	6	,	,	PUNCT
dem-11858	90	7	for	for	ADP
dem-11858	90	8	i	i	PROPN
dem-11858	90	9	=	=	SYM
dem-11858	90	10	1	1	NUM
dem-11858	90	11	,	,	PUNCT
dem-11858	90	12	2	2	NUM
dem-11858	90	13	,	,	PUNCT
dem-11858	90	14	…	…	PUNCT
dem-11858	90	15	,	,	PUNCT
dem-11858	90	16	n.	n.	NOUN
dem-11858	90	17	(	(	PUNCT
dem-11858	90	18	8)	8)	NUM
dem-11858	90	19	then	then	ADV
dem-11858	90	20	,	,	PUNCT
dem-11858	90	21	the	the	DET
dem-11858	90	22	following	follow	VERB
dem-11858	90	23	assumption	assumption	NOUN
dem-11858	90	24	is	be	AUX
dem-11858	90	25	true	true	ADJ
dem-11858	90	26	:	:	PUNCT
dem-11858	90	27			ADJ
dem-11858	90	28			PROPN
dem-11858	90	29	.1	.1	PROPN
dem-11858	90	30	1	1	NUM
dem-11858	90	31	,	,	PUNCT
dem-11858	90	32	,	,	PUNCT
dem-11858	90	33			NUM
dem-11858	90	34			X
dem-11858	91	1			NUM
dem-11858	91	2			INTJ
dem-11858	91	3	nt	not	PART
dem-11858	91	4	j	j	PROPN
dem-11858	91	5	tijntnttij	tijntnttij	PROPN
dem-11858	91	6	wiww	wiww	NOUN
dem-11858	91	7	(	(	PUNCT
dem-11858	91	8	9	9	X
dem-11858	91	9	)	)	PUNCT
dem-11858	91	10	the	the	DET
dem-11858	91	11	models	model	NOUN
dem-11858	91	12	described	describe	VERB
dem-11858	91	13	by	by	ADP
dem-11858	91	14	the	the	DET
dem-11858	91	15	formulas	formula	NOUN
dem-11858	91	16	(	(	PUNCT
dem-11858	91	17	1	1	NUM
dem-11858	91	18	)	)	PUNCT
dem-11858	91	19	and	and	CCONJ
dem-11858	91	20	(	(	PUNCT
dem-11858	91	21	2	2	X
dem-11858	91	22	)	)	PUNCT
dem-11858	91	23	were	be	AUX
dem-11858	91	24	used	use	VERB
dem-11858	91	25	to	to	PART
dem-11858	91	26	evaluate	evaluate	VERB
dem-11858	91	27	the	the	DET
dem-11858	91	28	process	process	NOUN
dem-11858	91	29	of	of	ADP
dem-11858	91	30	convergence	convergence	NOUN
dem-11858	91	31	/	/	SYM
dem-11858	91	32	divergence	divergence	NOUN
dem-11858	91	33	of	of	ADP
dem-11858	91	34	long	long	ADJ
dem-11858	91	35	-	-	PUNCT
dem-11858	91	36	term	term	NOUN
dem-11858	91	37	interest	interest	NOUN
dem-11858	91	38	rates	rate	NOUN
dem-11858	91	39	in	in	ADP
dem-11858	91	40	europe	europe	PROPN
dem-11858	91	41	.	.	PUNCT
dem-11858	92	1	the	the	DET
dem-11858	92	2	impacts	impact	NOUN
dem-11858	92	3	of	of	ADP
dem-11858	92	4	individual	individual	ADJ
dem-11858	92	5	states	state	NOUN
dem-11858	92	6	in	in	ADP
dem-11858	92	7	the	the	DET
dem-11858	92	8	considered	consider	VERB
dem-11858	92	9	process	process	NOUN
dem-11858	92	10	were	be	AUX
dem-11858	92	11	estimated	estimate	VERB
dem-11858	92	12	using	use	VERB
dem-11858	92	13	the	the	DET
dem-11858	92	14	theory	theory	NOUN
dem-11858	92	15	of	of	ADP
dem-11858	92	16	vertical	vertical	ADJ
dem-11858	92	17	convergence	convergence	NOUN
dem-11858	92	18	,	,	PUNCT
dem-11858	92	19	which	which	PRON
dem-11858	92	20	in	in	ADP
dem-11858	92	21	its	its	PRON
dem-11858	92	22	original	original	ADJ
dem-11858	92	23	form	form	NOUN
dem-11858	92	24	was	be	AUX
dem-11858	92	25	complementary	complementary	ADJ
dem-11858	92	26	to	to	ADP
dem-11858	92	27	the	the	DET
dem-11858	92	28	concept	concept	NOUN
dem-11858	92	29	of	of	ADP
dem-11858	92	30	income	income	NOUN
dem-11858	92	31	convergence	convergence	NOUN
dem-11858	92	32	.	.	PUNCT
dem-11858	93	1	the	the	DET
dem-11858	93	2	classical	classical	ADJ
dem-11858	93	3	models	model	NOUN
dem-11858	93	4	of	of	ADP
dem-11858	93	5	absolute	absolute	ADJ
dem-11858	93	6	and	and	CCONJ
dem-11858	93	7	conditional	conditional	ADJ
dem-11858	93	8	convergence	convergence	NOUN
dem-11858	93	9	did	do	AUX
dem-11858	93	10	not	not	PART
dem-11858	93	11	provide	provide	VERB
dem-11858	93	12	the	the	DET
dem-11858	93	13	possibility	possibility	NOUN
dem-11858	93	14	to	to	PART
dem-11858	93	15	estimate	estimate	VERB
dem-11858	93	16	individual	individual	ADJ
dem-11858	93	17	effects	effect	NOUN
dem-11858	93	18	of	of	ADP
dem-11858	93	19	each	each	PRON
dem-11858	93	20	of	of	ADP
dem-11858	93	21	the	the	DET
dem-11858	93	22	objects	object	NOUN
dem-11858	93	23	in	in	ADP
dem-11858	93	24	the	the	DET
dem-11858	93	25	process	process	NOUN
dem-11858	93	26	.	.	PUNCT
dem-11858	94	1	considering	consider	VERB
dem-11858	94	2	the	the	DET
dem-11858	94	3	fact	fact	NOUN
dem-11858	94	4	that	that	SCONJ
dem-11858	94	5	in	in	ADP
dem-11858	94	6	large	large	ADJ
dem-11858	94	7	groups	group	NOUN
dem-11858	94	8	of	of	ADP
dem-11858	94	9	objects	object	NOUN
dem-11858	94	10	,	,	PUNCT
dem-11858	94	11	which	which	PRON
dem-11858	94	12	are	be	AUX
dem-11858	94	13	characterised	characterise	VERB
dem-11858	94	14	by	by	ADP
dem-11858	94	15	significant	significant	ADJ
dem-11858	94	16	differences	difference	NOUN
dem-11858	94	17	,	,	PUNCT
dem-11858	94	18	both	both	DET
dem-11858	94	19	such	such	ADJ
dem-11858	94	20	objects	object	NOUN
dem-11858	94	21	exist	exist	VERB
dem-11858	94	22	for	for	ADP
dem-11858	94	23	which	which	PRON
dem-11858	94	24	the	the	DET
dem-11858	94	25	hypothesis	hypothesis	NOUN
dem-11858	94	26	of	of	ADP
dem-11858	94	27	existence	existence	NOUN
dem-11858	94	28	of	of	ADP
dem-11858	94	29	convergence	convergence	NOUN
dem-11858	94	30	is	be	AUX
dem-11858	94	31	justified	justify	VERB
dem-11858	94	32	and	and	CCONJ
dem-11858	94	33	those	those	PRON
dem-11858	94	34	that	that	PRON
dem-11858	94	35	do	do	AUX
dem-11858	94	36	not	not	PART
dem-11858	94	37	converge	converge	VERB
dem-11858	94	38	through	through	ADP
dem-11858	94	39	the	the	DET
dem-11858	94	40	investigated	investigated	ADJ
dem-11858	94	41	characteristics	characteristic	NOUN
dem-11858	94	42	,	,	PUNCT
dem-11858	94	43	false	false	ADJ
dem-11858	94	44	conclusions	conclusion	NOUN
dem-11858	94	45	may	may	AUX
dem-11858	94	46	be	be	AUX
dem-11858	94	47	drawn	draw	VERB
dem-11858	94	48	with	with	ADP
dem-11858	94	49	regard	regard	NOUN
dem-11858	94	50	to	to	ADP
dem-11858	94	51	whether	whether	SCONJ
dem-11858	94	52	the	the	DET
dem-11858	94	53	process	process	NOUN
dem-11858	94	54	of	of	ADP
dem-11858	94	55	convergence	convergence	NOUN
dem-11858	94	56	between	between	ADP
dem-11858	94	57	all	all	DET
dem-11858	94	58	analysed	analyse	VERB
dem-11858	94	59	objects	object	NOUN
dem-11858	94	60	occurs	occur	VERB
dem-11858	94	61	or	or	CCONJ
dem-11858	94	62	not	not	PART
dem-11858	94	63	.	.	PUNCT
dem-11858	95	1	the	the	DET
dem-11858	95	2	idea	idea	NOUN
dem-11858	95	3	of	of	ADP
dem-11858	95	4	vertical	vertical	ADJ
dem-11858	95	5	convergence	convergence	NOUN
dem-11858	95	6	refers	refer	VERB
dem-11858	95	7	essentially	essentially	ADV
dem-11858	95	8	to	to	ADP
dem-11858	95	9	the	the	DET
dem-11858	95	10	marginal	marginal	ADJ
dem-11858	95	11	credit	credit	NOUN
dem-11858	95	12	risk	risk	NOUN
dem-11858	95	13	which	which	PRON
dem-11858	95	14	is	be	AUX
dem-11858	95	15	determined	determine	VERB
dem-11858	95	16	as	as	ADP
dem-11858	95	17	the	the	DET
dem-11858	95	18	difference	difference	NOUN
dem-11858	95	19	between	between	ADP
dem-11858	95	20	the	the	DET
dem-11858	95	21	risk	risk	NOUN
dem-11858	95	22	calculated	calculate	VERB
dem-11858	95	23	with	with	ADP
dem-11858	95	24	regard	regard	NOUN
dem-11858	95	25	to	to	ADP
dem-11858	95	26	full	full	ADJ
dem-11858	95	27	loan	loan	NOUN
dem-11858	95	28	portfolio	portfolio	NOUN
dem-11858	95	29	and	and	CCONJ
dem-11858	95	30	the	the	DET
dem-11858	95	31	portfolio	portfolio	NOUN
dem-11858	95	32	consisting	consist	VERB
dem-11858	95	33	of	of	ADP
dem-11858	95	34	n	n	PRON
dem-11858	95	35	–	–	PUNCT
dem-11858	95	36	1	1	NUM
dem-11858	95	37	components	component	NOUN
dem-11858	95	38	.	.	PUNCT
dem-11858	96	1	the	the	DET
dem-11858	96	2	values	value	NOUN
dem-11858	96	3	of	of	ADP
dem-11858	96	4	vertical	vertical	ADJ
dem-11858	96	5	convergence	convergence	NOUN
dem-11858	96	6	for	for	ADP
dem-11858	96	7	every	every	DET
dem-11858	96	8	issuer	issuer	NOUN
dem-11858	96	9	were	be	AUX
dem-11858	96	10	obtained	obtain	VERB
dem-11858	96	11	using	use	VERB
dem-11858	96	12	the	the	DET
dem-11858	96	13	formula	formula	NOUN
dem-11858	96	14	:	:	PUNCT
dem-11858	96	15	elżbieta	elżbieta	PROPN
dem-11858	96	16	szulc	szulc	PROPN
dem-11858	96	17	,	,	PUNCT
dem-11858	96	18	dagna	dagna	VERB
dem-11858	96	19	wleklińska	wleklińska	NOUN
dem-11858	96	20	,	,	PUNCT
dem-11858	96	21	karolina	karolina	PROPN
dem-11858	96	22	górna	górna	PROPN
dem-11858	96	23	dynamic	dynamic	ADJ
dem-11858	96	24	econometric	econometric	ADJ
dem-11858	96	25	models	model	NOUN
dem-11858	96	26	16	16	NUM
dem-11858	96	27	(	(	PUNCT
dem-11858	96	28	2016	2016	NUM
dem-11858	96	29	)	)	PUNCT
dem-11858	96	30	165–187	165–187	NUM
dem-11858	96	31	172	172	NUM
dem-11858	96	32	,	,	PUNCT
dem-11858	96	33	ini	ini	PROPN
dem-11858	96	34	bbconv	bbconv	PROPN
dem-11858	96	35			NUM
dem-11858	96	36	(	(	PUNCT
dem-11858	96	37	10	10	NUM
dem-11858	96	38	)	)	PUNCT
dem-11858	96	39	where	where	SCONJ
dem-11858	96	40	:	:	PUNCT
dem-11858	96	41	b	b	X
dem-11858	96	42	–	–	PUNCT
dem-11858	96	43	speed	speed	NOUN
dem-11858	96	44	of	of	ADP
dem-11858	96	45	convergence	convergence	NOUN
dem-11858	96	46	,	,	PUNCT
dem-11858	96	47	indicating	indicate	VERB
dem-11858	96	48	the	the	DET
dem-11858	96	49	time	time	NOUN
dem-11858	96	50	necessary	necessary	ADJ
dem-11858	96	51	to	to	PART
dem-11858	96	52	equalise	equalise	VERB
dem-11858	96	53	levels	level	NOUN
dem-11858	96	54	of	of	ADP
dem-11858	96	55	the	the	DET
dem-11858	96	56	analysed	analyse	VERB
dem-11858	96	57	phenomenon	phenomenon	NOUN
dem-11858	96	58	,	,	PUNCT
dem-11858	96	59	wherein	wherein	ADJ
dem-11858	96	60	:	:	PUNCT
dem-11858	96	61			PROPN
dem-11858	96	62			PROPN
dem-11858	96	63	,	,	PUNCT
dem-11858	96	64	1ln	1ln	PROPN
dem-11858	96	65	t	t	PROPN
dem-11858	96	66	b	b	PROPN
dem-11858	96	67			ADP
dem-11858	96	68			PROPN
dem-11858	96	69	(	(	PUNCT
dem-11858	96	70	11	11	NUM
dem-11858	96	71	)	)	PUNCT
dem-11858	96	72	inb	inb	PROPN
dem-11858	96	73			NOUN
dem-11858	96	74	–	–	PUNCT
dem-11858	96	75	speed	speed	NOUN
dem-11858	96	76	of	of	ADP
dem-11858	96	77	convergence	convergence	NOUN
dem-11858	96	78	calculated	calculate	VERB
dem-11858	96	79	for	for	ADP
dem-11858	96	80	the	the	DET
dem-11858	96	81	researched	research	VERB
dem-11858	96	82	group	group	NOUN
dem-11858	96	83	of	of	ADP
dem-11858	96	84	objects	object	NOUN
dem-11858	96	85	with	with	ADP
dem-11858	96	86	the	the	DET
dem-11858	96	87	exception	exception	NOUN
dem-11858	96	88	of	of	ADP
dem-11858	96	89	object	object	NOUN
dem-11858	96	90	i.	i.	NOUN
dem-11858	96	91	value	value	NOUN
dem-11858	96	92	of	of	ADP
dem-11858	96	93	iconv	iconv	NOUN
dem-11858	96	94	tells	tell	VERB
dem-11858	96	95	us	we	PRON
dem-11858	96	96	what	what	PRON
dem-11858	96	97	is	be	AUX
dem-11858	96	98	the	the	DET
dem-11858	96	99	direction	direction	NOUN
dem-11858	96	100	and	and	CCONJ
dem-11858	96	101	strength	strength	NOUN
dem-11858	96	102	of	of	ADP
dem-11858	96	103	the	the	DET
dem-11858	96	104	influence	influence	NOUN
dem-11858	96	105	of	of	ADP
dem-11858	96	106	particular	particular	ADJ
dem-11858	96	107	states	state	NOUN
dem-11858	96	108	on	on	ADP
dem-11858	96	109	the	the	DET
dem-11858	96	110	process	process	NOUN
dem-11858	96	111	of	of	ADP
dem-11858	96	112	alignment	alignment	NOUN
dem-11858	96	113	of	of	ADP
dem-11858	96	114	long	long	ADJ
dem-11858	96	115	-	-	PUNCT
dem-11858	96	116	term	term	NOUN
dem-11858	96	117	interest	interest	NOUN
dem-11858	96	118	rates	rate	NOUN
dem-11858	96	119	.	.	PUNCT
dem-11858	97	1	3	3	X
dem-11858	97	2	.	.	X
dem-11858	97	3	preliminary	preliminary	ADJ
dem-11858	97	4	data	datum	NOUN
dem-11858	97	5	analysis	analysis	NOUN
dem-11858	97	6	there	there	PRON
dem-11858	97	7	is	be	VERB
dem-11858	97	8	an	an	DET
dem-11858	97	9	obvious	obvious	ADJ
dem-11858	97	10	connection	connection	NOUN
dem-11858	97	11	between	between	ADP
dem-11858	97	12	the	the	DET
dem-11858	97	13	size	size	NOUN
dem-11858	97	14	of	of	ADP
dem-11858	97	15	the	the	DET
dem-11858	97	16	public	public	ADJ
dem-11858	97	17	debt	debt	NOUN
dem-11858	97	18	and	and	CCONJ
dem-11858	97	19	deficit	deficit	NOUN
dem-11858	97	20	and	and	CCONJ
dem-11858	97	21	the	the	DET
dem-11858	97	22	yields	yield	NOUN
dem-11858	97	23	on	on	ADP
dem-11858	97	24	long	long	ADJ
dem-11858	97	25	-	-	PUNCT
dem-11858	97	26	term	term	NOUN
dem-11858	97	27	government	government	NOUN
dem-11858	97	28	bonds	bond	NOUN
dem-11858	97	29	.	.	PUNCT
dem-11858	98	1	the	the	DET
dem-11858	98	2	height	height	NOUN
dem-11858	98	3	of	of	ADP
dem-11858	98	4	an	an	DET
dem-11858	98	5	interest	interest	NOUN
dem-11858	98	6	rate	rate	NOUN
dem-11858	98	7	of	of	ADP
dem-11858	98	8	debt	debt	NOUN
dem-11858	98	9	securities	security	NOUN
dem-11858	98	10	issued	issue	VERB
dem-11858	98	11	by	by	ADP
dem-11858	98	12	the	the	DET
dem-11858	98	13	treasury	treasury	NOUN
dem-11858	98	14	affects	affect	VERB
dem-11858	98	15	the	the	DET
dem-11858	98	16	pace	pace	NOUN
dem-11858	98	17	of	of	ADP
dem-11858	98	18	an	an	DET
dem-11858	98	19	increase	increase	NOUN
dem-11858	98	20	of	of	ADP
dem-11858	98	21	the	the	DET
dem-11858	98	22	debt	debt	NOUN
dem-11858	98	23	to	to	ADP
dem-11858	98	24	gdp	gdp	NOUN
dem-11858	98	25	ratio	ratio	NOUN
dem-11858	98	26	,	,	PUNCT
dem-11858	98	27	thereby	thereby	ADV
dem-11858	98	28	impacting	impact	VERB
dem-11858	98	29	the	the	DET
dem-11858	98	30	solvency	solvency	NOUN
dem-11858	98	31	of	of	ADP
dem-11858	98	32	the	the	DET
dem-11858	98	33	government	government	NOUN
dem-11858	98	34	.	.	PUNCT
dem-11858	99	1	the	the	DET
dem-11858	99	2	rising	rise	VERB
dem-11858	99	3	level	level	NOUN
dem-11858	99	4	of	of	ADP
dem-11858	99	5	the	the	DET
dem-11858	99	6	public	public	ADJ
dem-11858	99	7	debt	debt	NOUN
dem-11858	99	8	may	may	AUX
dem-11858	99	9	lead	lead	VERB
dem-11858	99	10	to	to	ADP
dem-11858	99	11	an	an	DET
dem-11858	99	12	expectation	expectation	NOUN
dem-11858	99	13	of	of	ADP
dem-11858	99	14	a	a	DET
dem-11858	99	15	higher	high	ADJ
dem-11858	99	16	risk	risk	NOUN
dem-11858	99	17	premium	premium	NOUN
dem-11858	99	18	by	by	ADP
dem-11858	99	19	the	the	DET
dem-11858	99	20	investors	investor	NOUN
dem-11858	99	21	reflected	reflect	VERB
dem-11858	99	22	in	in	ADP
dem-11858	99	23	the	the	DET
dem-11858	99	24	increase	increase	NOUN
dem-11858	99	25	in	in	ADP
dem-11858	99	26	bond	bond	NOUN
dem-11858	99	27	yields	yield	NOUN
dem-11858	99	28	,	,	PUNCT
dem-11858	99	29	which	which	PRON
dem-11858	99	30	in	in	ADP
dem-11858	99	31	turn	turn	NOUN
dem-11858	99	32	may	may	AUX
dem-11858	99	33	accelerate	accelerate	VERB
dem-11858	99	34	the	the	DET
dem-11858	99	35	pace	pace	NOUN
dem-11858	99	36	of	of	ADP
dem-11858	99	37	debt	debt	NOUN
dem-11858	99	38	accumulation	accumulation	NOUN
dem-11858	99	39	.	.	PUNCT
dem-11858	100	1	the	the	DET
dem-11858	100	2	positive	positive	ADJ
dem-11858	100	3	relationship	relationship	NOUN
dem-11858	100	4	between	between	ADP
dem-11858	100	5	the	the	DET
dem-11858	100	6	rate	rate	NOUN
dem-11858	100	7	of	of	ADP
dem-11858	100	8	debt	debt	NOUN
dem-11858	100	9	accumulation	accumulation	NOUN
dem-11858	100	10	and	and	CCONJ
dem-11858	100	11	its	its	PRON
dem-11858	100	12	level	level	NOUN
dem-11858	100	13	is	be	AUX
dem-11858	100	14	often	often	ADV
dem-11858	100	15	referred	refer	VERB
dem-11858	100	16	to	to	ADP
dem-11858	100	17	the	the	DET
dem-11858	100	18	economic	economic	ADJ
dem-11858	100	19	phenomena	phenomenon	NOUN
dem-11858	100	20	known	know	VERB
dem-11858	100	21	as	as	ADP
dem-11858	100	22	"	"	PUNCT
dem-11858	100	23	the	the	DET
dem-11858	100	24	snowball	snowball	ADJ
dem-11858	100	25	effect	effect	NOUN
dem-11858	100	26	"	"	PUNCT
dem-11858	100	27	.	.	PUNCT
dem-11858	101	1	the	the	DET
dem-11858	101	2	problem	problem	NOUN
dem-11858	101	3	of	of	ADP
dem-11858	101	4	an	an	DET
dem-11858	101	5	increasing	increase	VERB
dem-11858	101	6	debt	debt	NOUN
dem-11858	101	7	-	-	PUNCT
dem-11858	101	8	to	to	ADP
dem-11858	101	9	-	-	PUNCT
dem-11858	101	10	gdp	gdp	NOUN
dem-11858	101	11	ratio	ratio	NOUN
dem-11858	101	12	and	and	CCONJ
dem-11858	101	13	therefore	therefore	ADV
dem-11858	101	14	the	the	DET
dem-11858	101	15	declining	decline	VERB
dem-11858	101	16	confidence	confidence	NOUN
dem-11858	101	17	in	in	ADP
dem-11858	101	18	the	the	DET
dem-11858	101	19	countries	country	NOUN
dem-11858	101	20	issuing	issue	VERB
dem-11858	101	21	debt	debt	NOUN
dem-11858	101	22	securities	security	NOUN
dem-11858	101	23	has	have	AUX
dem-11858	101	24	been	be	AUX
dem-11858	101	25	taken	take	VERB
dem-11858	101	26	up	up	ADP
dem-11858	101	27	again	again	ADV
dem-11858	101	28	by	by	ADP
dem-11858	101	29	the	the	DET
dem-11858	101	30	theorists	theorist	NOUN
dem-11858	101	31	of	of	ADP
dem-11858	101	32	the	the	DET
dem-11858	101	33	market	market	NOUN
dem-11858	101	34	due	due	ADP
dem-11858	101	35	to	to	ADP
dem-11858	101	36	the	the	DET
dem-11858	101	37	outbreak	outbreak	NOUN
dem-11858	101	38	of	of	ADP
dem-11858	101	39	the	the	DET
dem-11858	101	40	global	global	ADJ
dem-11858	101	41	financial	financial	ADJ
dem-11858	101	42	crisis	crisis	NOUN
dem-11858	101	43	.	.	PUNCT
dem-11858	102	1	however	however	ADV
dem-11858	102	2	,	,	PUNCT
dem-11858	102	3	the	the	DET
dem-11858	102	4	doubts	doubt	NOUN
dem-11858	102	5	concerned	concern	VERB
dem-11858	102	6	with	with	ADP
dem-11858	102	7	the	the	DET
dem-11858	102	8	solvency	solvency	NOUN
dem-11858	102	9	of	of	ADP
dem-11858	102	10	governments	government	NOUN
dem-11858	102	11	grew	grow	VERB
dem-11858	102	12	since	since	SCONJ
dem-11858	102	13	the	the	DET
dem-11858	102	14	crisis	crisis	NOUN
dem-11858	102	15	of	of	ADP
dem-11858	102	16	the	the	DET
dem-11858	102	17	1930s	1930	NOUN
dem-11858	102	18	,	,	PUNCT
dem-11858	102	19	when	when	SCONJ
dem-11858	102	20	the	the	DET
dem-11858	102	21	fear	fear	NOUN
dem-11858	102	22	of	of	ADP
dem-11858	102	23	the	the	DET
dem-11858	102	24	consequences	consequence	NOUN
dem-11858	102	25	of	of	ADP
dem-11858	102	26	many	many	ADJ
dem-11858	102	27	developed	develop	VERB
dem-11858	102	28	countries	country	NOUN
dem-11858	102	29	caused	cause	VERB
dem-11858	102	30	them	they	PRON
dem-11858	102	31	to	to	PART
dem-11858	102	32	implement	implement	VERB
dem-11858	102	33	a	a	DET
dem-11858	102	34	highly	highly	ADV
dem-11858	102	35	expansionary	expansionary	ADJ
dem-11858	102	36	fiscal	fiscal	ADJ
dem-11858	102	37	policy	policy	NOUN
dem-11858	102	38	leading	lead	VERB
dem-11858	102	39	in	in	ADP
dem-11858	102	40	consequence	consequence	NOUN
dem-11858	102	41	to	to	ADP
dem-11858	102	42	a	a	DET
dem-11858	102	43	sharp	sharp	ADJ
dem-11858	102	44	increase	increase	NOUN
dem-11858	102	45	in	in	ADP
dem-11858	102	46	their	their	PRON
dem-11858	102	47	debt	debt	NOUN
dem-11858	102	48	.	.	PUNCT
dem-11858	103	1	in	in	ADP
dem-11858	103	2	particular	particular	ADJ
dem-11858	103	3	,	,	PUNCT
dem-11858	103	4	countries	country	NOUN
dem-11858	103	5	belonging	belong	VERB
dem-11858	103	6	to	to	ADP
dem-11858	103	7	what	what	PRON
dem-11858	103	8	was	be	AUX
dem-11858	103	9	conventionally	conventionally	ADV
dem-11858	103	10	called	call	VERB
dem-11858	103	11	"	"	PUNCT
dem-11858	103	12	the	the	DET
dem-11858	103	13	southern	southern	PROPN
dem-11858	103	14	europe	europe	PROPN
dem-11858	103	15	"	"	PUNCT
dem-11858	103	16	began	begin	VERB
dem-11858	103	17	to	to	PART
dem-11858	103	18	grapple	grapple	VERB
dem-11858	103	19	with	with	ADP
dem-11858	103	20	growing	grow	VERB
dem-11858	103	21	internal	internal	ADJ
dem-11858	103	22	and	and	CCONJ
dem-11858	103	23	external	external	ADJ
dem-11858	103	24	imbalances	imbalance	NOUN
dem-11858	103	25	,	,	PUNCT
dem-11858	103	26	which	which	PRON
dem-11858	103	27	was	be	AUX
dem-11858	103	28	soon	soon	ADV
dem-11858	103	29	reflected	reflect	VERB
dem-11858	103	30	in	in	ADP
dem-11858	103	31	the	the	DET
dem-11858	103	32	decline	decline	NOUN
dem-11858	103	33	in	in	ADP
dem-11858	103	34	demand	demand	NOUN
dem-11858	103	35	for	for	ADP
dem-11858	103	36	the	the	DET
dem-11858	103	37	bonds	bond	NOUN
dem-11858	103	38	issued	issue	VERB
dem-11858	103	39	by	by	ADP
dem-11858	103	40	the	the	DET
dem-11858	103	41	treasury	treasury	PROPN
dem-11858	103	42	.	.	PUNCT
dem-11858	104	1	figure	figure	NOUN
dem-11858	104	2	1	1	NUM
dem-11858	104	3	shows	show	VERB
dem-11858	104	4	bar	bar	NOUN
dem-11858	104	5	graphs	graph	NOUN
dem-11858	104	6	concerning	concern	VERB
dem-11858	104	7	the	the	DET
dem-11858	104	8	values	value	NOUN
dem-11858	104	9	of	of	ADP
dem-11858	104	10	the	the	DET
dem-11858	104	11	public	public	ADJ
dem-11858	104	12	debt	debt	NOUN
dem-11858	104	13	of	of	ADP
dem-11858	104	14	the	the	DET
dem-11858	104	15	member	member	NOUN
dem-11858	104	16	countries	country	NOUN
dem-11858	104	17	of	of	ADP
dem-11858	104	18	the	the	DET
dem-11858	104	19	european	european	PROPN
dem-11858	104	20	union	union	PROPN
dem-11858	104	21	in	in	ADP
dem-11858	104	22	the	the	DET
dem-11858	104	23	period	period	NOUN
dem-11858	104	24	between	between	ADP
dem-11858	104	25	20062015	20062015	PROPN
dem-11858	104	26	.	.	PUNCT
dem-11858	105	1	the	the	DET
dem-11858	105	2	graphs	graph	NOUN
dem-11858	105	3	have	have	AUX
dem-11858	105	4	been	be	AUX
dem-11858	105	5	performed	perform	VERB
dem-11858	105	6	with	with	ADP
dem-11858	105	7	the	the	DET
dem-11858	105	8	use	use	NOUN
dem-11858	105	9	of	of	ADP
dem-11858	105	10	annual	annual	ADJ
dem-11858	105	11	data	datum	NOUN
dem-11858	105	12	.	.	PUNCT
dem-11858	106	1	the	the	DET
dem-11858	106	2	horizontal	horizontal	ADJ
dem-11858	106	3	line	line	NOUN
dem-11858	106	4	indicates	indicate	VERB
dem-11858	106	5	an	an	DET
dem-11858	106	6	excess	excess	NOUN
dem-11858	106	7	of	of	ADP
dem-11858	106	8	the	the	DET
dem-11858	106	9	rate	rate	NOUN
dem-11858	106	10	of	of	ADP
dem-11858	106	11	one	one	NUM
dem-11858	106	12	hundred	hundred	NUM
dem-11858	106	13	percent	percent	NOUN
dem-11858	106	14	of	of	ADP
dem-11858	106	15	the	the	DET
dem-11858	106	16	gross	gross	ADJ
dem-11858	106	17	domestic	domestic	ADJ
dem-11858	106	18	product	product	NOUN
dem-11858	106	19	.	.	PUNCT
dem-11858	107	1	it	it	PRON
dem-11858	107	2	may	may	AUX
dem-11858	107	3	be	be	AUX
dem-11858	107	4	noticed	notice	VERB
dem-11858	107	5	that	that	SCONJ
dem-11858	107	6	at	at	ADP
dem-11858	107	7	the	the	DET
dem-11858	107	8	end	end	NOUN
dem-11858	107	9	of	of	ADP
dem-11858	107	10	the	the	DET
dem-11858	107	11	analysed	analyse	VERB
dem-11858	107	12	period	period	NOUN
dem-11858	107	13	,	,	PUNCT
dem-11858	107	14	the	the	DET
dem-11858	107	15	the	the	DET
dem-11858	107	16	share	share	NOUN
dem-11858	107	17	of	of	ADP
dem-11858	107	18	european	european	ADJ
dem-11858	107	19	economies	economy	NOUN
dem-11858	107	20	in	in	ADP
dem-11858	107	21	the	the	DET
dem-11858	107	22	process	process	NOUN
dem-11858	107	23	of	of	ADP
dem-11858	107	24	convergence	convergence	NOUN
dem-11858	107	25	…	…	SYM
dem-11858	107	26	dynamic	dynamic	ADJ
dem-11858	107	27	econometric	econometric	ADJ
dem-11858	107	28	models	model	NOUN
dem-11858	107	29	16	16	NUM
dem-11858	107	30	(	(	PUNCT
dem-11858	107	31	2016	2016	NUM
dem-11858	107	32	)	)	PUNCT
dem-11858	107	33	165–187	165–187	NUM
dem-11858	107	34	173	173	NUM
dem-11858	107	35	countries	country	NOUN
dem-11858	107	36	from	from	ADP
dem-11858	107	37	the	the	DET
dem-11858	107	38	southern	southern	ADJ
dem-11858	107	39	europe	europe	PROPN
dem-11858	107	40	were	be	AUX
dem-11858	107	41	most	most	ADV
dem-11858	107	42	affected	affect	VERB
dem-11858	107	43	by	by	ADP
dem-11858	107	44	the	the	DET
dem-11858	107	45	debt	debt	NOUN
dem-11858	107	46	crisis	crisis	NOUN
dem-11858	107	47	.	.	PUNCT
dem-11858	108	1	nevertheless	nevertheless	ADV
dem-11858	108	2	,	,	PUNCT
dem-11858	108	3	the	the	DET
dem-11858	108	4	problem	problem	NOUN
dem-11858	108	5	of	of	ADP
dem-11858	108	6	debt	debt	NOUN
dem-11858	108	7	affected	affect	VERB
dem-11858	108	8	not	not	PART
dem-11858	108	9	only	only	ADV
dem-11858	108	10	the	the	DET
dem-11858	108	11	countries	country	NOUN
dem-11858	108	12	considered	consider	VERB
dem-11858	108	13	to	to	PART
dem-11858	108	14	be	be	AUX
dem-11858	108	15	poorer	poor	ADJ
dem-11858	108	16	,	,	PUNCT
dem-11858	108	17	such	such	ADJ
dem-11858	108	18	as	as	ADP
dem-11858	108	19	greece	greece	PROPN
dem-11858	108	20	,	,	PUNCT
dem-11858	108	21	portugal	portugal	PROPN
dem-11858	108	22	,	,	PUNCT
dem-11858	108	23	lithuania	lithuania	PROPN
dem-11858	108	24	,	,	PUNCT
dem-11858	108	25	latvia	latvia	PROPN
dem-11858	108	26	and	and	CCONJ
dem-11858	108	27	estonia	estonia	PROPN
dem-11858	108	28	,	,	PUNCT
dem-11858	108	29	but	but	CCONJ
dem-11858	108	30	also	also	ADV
dem-11858	108	31	ireland	ireland	PROPN
dem-11858	108	32	,	,	PUNCT
dem-11858	108	33	whose	whose	DET
dem-11858	108	34	economic	economic	ADJ
dem-11858	108	35	indicators	indicator	NOUN
dem-11858	108	36	of	of	ADP
dem-11858	108	37	the	the	DET
dem-11858	108	38	last	last	ADJ
dem-11858	108	39	decade	decade	NOUN
dem-11858	108	40	were	be	AUX
dem-11858	108	41	to	to	PART
dem-11858	108	42	set	set	VERB
dem-11858	108	43	an	an	DET
dem-11858	108	44	example	example	NOUN
dem-11858	108	45	for	for	ADP
dem-11858	108	46	the	the	DET
dem-11858	108	47	countries	country	NOUN
dem-11858	108	48	of	of	ADP
dem-11858	108	49	the	the	DET
dem-11858	108	50	central	central	ADJ
dem-11858	108	51	and	and	CCONJ
dem-11858	108	52	eastern	eastern	ADJ
dem-11858	108	53	europe	europe	PROPN
dem-11858	108	54	.	.	PUNCT
dem-11858	109	1	among	among	ADP
dem-11858	109	2	the	the	DET
dem-11858	109	3	countries	country	NOUN
dem-11858	109	4	whose	whose	DET
dem-11858	109	5	value	value	NOUN
dem-11858	109	6	of	of	ADP
dem-11858	109	7	debt	debt	NOUN
dem-11858	109	8	in	in	ADP
dem-11858	109	9	the	the	DET
dem-11858	109	10	recent	recent	ADJ
dem-11858	109	11	years	year	NOUN
dem-11858	109	12	has	have	AUX
dem-11858	109	13	exceeded	exceed	VERB
dem-11858	109	14	one	one	NUM
dem-11858	109	15	hundred	hundred	NUM
dem-11858	109	16	percent	percent	NOUN
dem-11858	109	17	of	of	ADP
dem-11858	109	18	the	the	DET
dem-11858	109	19	gross	gross	ADJ
dem-11858	109	20	domestic	domestic	ADJ
dem-11858	109	21	product	product	NOUN
dem-11858	109	22	we	we	PRON
dem-11858	109	23	have	have	VERB
dem-11858	109	24	:	:	PUNCT
dem-11858	109	25	portugal	portugal	PROPN
dem-11858	109	26	,	,	PUNCT
dem-11858	109	27	belgium	belgium	PROPN
dem-11858	109	28	,	,	PUNCT
dem-11858	109	29	cyprus	cyprus	PROPN
dem-11858	109	30	,	,	PUNCT
dem-11858	109	31	greece	greece	PROPN
dem-11858	109	32	and	and	CCONJ
dem-11858	109	33	italy	italy	PROPN
dem-11858	109	34	.	.	PUNCT
dem-11858	110	1	until	until	ADP
dem-11858	110	2	2014	2014	NUM
dem-11858	110	3	,	,	PUNCT
dem-11858	110	4	iceland	iceland	PROPN
dem-11858	110	5	belonged	belong	VERB
dem-11858	110	6	to	to	ADP
dem-11858	110	7	this	this	DET
dem-11858	110	8	group	group	NOUN
dem-11858	110	9	as	as	ADV
dem-11858	110	10	well	well	ADV
dem-11858	110	11	,	,	PUNCT
dem-11858	110	12	however	however	ADV
dem-11858	110	13	,	,	PUNCT
dem-11858	110	14	in	in	ADP
dem-11858	110	15	2015	2015	NUM
dem-11858	110	16	the	the	DET
dem-11858	110	17	debt	debt	NOUN
dem-11858	110	18	ratio	ratio	NOUN
dem-11858	110	19	did	do	AUX
dem-11858	110	20	not	not	PART
dem-11858	110	21	exceed	exceed	VERB
dem-11858	110	22	seventy	seventy	NUM
dem-11858	110	23	-	-	PUNCT
dem-11858	110	24	eight	eight	NUM
dem-11858	110	25	percent	percent	NOUN
dem-11858	110	26	of	of	ADP
dem-11858	110	27	gdp	gdp	PROPN
dem-11858	110	28	.	.	PROPN
dem-11858	110	29	figure	figure	NOUN
dem-11858	110	30	1	1	NUM
dem-11858	110	31	.	.	PUNCT
dem-11858	110	32	bar	bar	NOUN
dem-11858	110	33	charts	chart	NOUN
dem-11858	110	34	of	of	ADP
dem-11858	110	35	debt	debt	NOUN
dem-11858	110	36	to	to	ADP
dem-11858	110	37	gdp	gdp	NOUN
dem-11858	110	38	ratio	ratio	NOUN
dem-11858	110	39	in	in	ADP
dem-11858	110	40	the	the	DET
dem-11858	110	41	years	year	NOUN
dem-11858	110	42	2006–2015	2006–2015	NUM
dem-11858	110	43	in	in	ADP
dem-11858	110	44	turn	turn	NOUN
dem-11858	110	45	,	,	PUNCT
dem-11858	110	46	figure	figure	NOUN
dem-11858	110	47	2	2	NUM
dem-11858	110	48	shows	show	VERB
dem-11858	110	49	bar	bar	NOUN
dem-11858	110	50	graphs	graph	NOUN
dem-11858	110	51	reflecting	reflect	VERB
dem-11858	110	52	the	the	DET
dem-11858	110	53	ratio	ratio	NOUN
dem-11858	110	54	of	of	ADP
dem-11858	110	55	deficit	deficit	NOUN
dem-11858	110	56	to	to	ADP
dem-11858	110	57	the	the	DET
dem-11858	110	58	gross	gross	ADJ
dem-11858	110	59	value	value	NOUN
dem-11858	110	60	of	of	ADP
dem-11858	110	61	gross	gross	ADJ
dem-11858	110	62	domestic	domestic	ADJ
dem-11858	110	63	product	product	NOUN
dem-11858	110	64	.	.	PUNCT
dem-11858	111	1	the	the	DET
dem-11858	111	2	rapid	rapid	ADJ
dem-11858	111	3	increase	increase	NOUN
dem-11858	111	4	in	in	ADP
dem-11858	111	5	debt	debt	NOUN
dem-11858	111	6	is	be	AUX
dem-11858	111	7	one	one	NUM
dem-11858	111	8	of	of	ADP
dem-11858	111	9	the	the	DET
dem-11858	111	10	main	main	ADJ
dem-11858	111	11	factors	factor	NOUN
dem-11858	111	12	having	have	VERB
dem-11858	111	13	a	a	DET
dem-11858	111	14	destabilizing	destabilizing	ADJ
dem-11858	111	15	effect	effect	NOUN
dem-11858	111	16	on	on	ADP
dem-11858	111	17	the	the	DET
dem-11858	111	18	economic	economic	ADJ
dem-11858	111	19	system	system	NOUN
dem-11858	111	20	.	.	PUNCT
dem-11858	112	1	however	however	ADV
dem-11858	112	2	,	,	PUNCT
dem-11858	112	3	along	along	ADP
dem-11858	112	4	with	with	ADP
dem-11858	112	5	an	an	DET
dem-11858	112	6	increase	increase	NOUN
dem-11858	112	7	of	of	ADP
dem-11858	112	8	national	national	ADJ
dem-11858	112	9	prosperity	prosperity	NOUN
dem-11858	112	10	the	the	DET
dem-11858	112	11	level	level	NOUN
dem-11858	112	12	of	of	ADP
dem-11858	112	13	the	the	DET
dem-11858	112	14	public	public	ADJ
dem-11858	112	15	debt	debt	NOUN
dem-11858	112	16	acceptable	acceptable	ADJ
dem-11858	112	17	for	for	ADP
dem-11858	112	18	investors	investor	NOUN
dem-11858	112	19	increases	increase	NOUN
dem-11858	112	20	,	,	PUNCT
dem-11858	112	21	though	though	SCONJ
dem-11858	112	22	what	what	PRON
dem-11858	112	23	is	be	AUX
dem-11858	112	24	also	also	ADV
dem-11858	112	25	not	not	PART
dem-11858	112	26	without	without	ADP
dem-11858	112	27	significance	significance	NOUN
dem-11858	112	28	is	be	AUX
dem-11858	112	29	the	the	DET
dem-11858	112	30	credit	credit	NOUN
dem-11858	112	31	history	history	NOUN
dem-11858	112	32	of	of	ADP
dem-11858	112	33	a	a	DET
dem-11858	112	34	given	give	VERB
dem-11858	112	35	country	country	NOUN
dem-11858	112	36	.	.	PUNCT
dem-11858	113	1	among	among	ADP
dem-11858	113	2	the	the	DET
dem-11858	113	3	economies	economy	NOUN
dem-11858	113	4	that	that	PRON
dem-11858	113	5	faced	face	VERB
dem-11858	113	6	the	the	DET
dem-11858	113	7	necessity	necessity	NOUN
dem-11858	113	8	to	to	PART
dem-11858	113	9	apply	apply	VERB
dem-11858	113	10	for	for	ADP
dem-11858	113	11	international	international	ADJ
dem-11858	113	12	assistance	assistance	NOUN
dem-11858	113	13	are	be	AUX
dem-11858	113	14	romania	romania	PROPN
dem-11858	113	15	and	and	CCONJ
dem-11858	113	16	latvia	latvia	PROPN
dem-11858	113	17	,	,	PUNCT
dem-11858	113	18	which	which	PRON
dem-11858	113	19	in	in	ADP
dem-11858	113	20	2010	2010	NUM
dem-11858	113	21	were	be	AUX
dem-11858	113	22	at	at	ADP
dem-11858	113	23	risk	risk	NOUN
dem-11858	113	24	of	of	ADP
dem-11858	113	25	bankruptcy	bankruptcy	NOUN
dem-11858	113	26	.	.	PUNCT
dem-11858	114	1	according	accord	VERB
dem-11858	114	2	to	to	ADP
dem-11858	114	3	the	the	DET
dem-11858	114	4	estimates	estimate	NOUN
dem-11858	114	5	of	of	ADP
dem-11858	114	6	the	the	DET
dem-11858	114	7	european	european	PROPN
dem-11858	114	8	commission	commission	PROPN
dem-11858	114	9	,	,	PUNCT
dem-11858	114	10	romania	romania	PROPN
dem-11858	114	11	's	's	PART
dem-11858	114	12	public	public	ADJ
dem-11858	114	13	debt	debt	NOUN
dem-11858	114	14	ratio	ratio	NOUN
dem-11858	114	15	amounted	amount	VERB
dem-11858	114	16	to	to	ADP
dem-11858	114	17	30.8	30.8	NUM
dem-11858	114	18	percent	percent	NOUN
dem-11858	114	19	of	of	ADP
dem-11858	114	20	gross	gross	ADJ
dem-11858	114	21	domestic	domestic	ADJ
dem-11858	114	22	product	product	NOUN
dem-11858	114	23	,	,	PUNCT
dem-11858	114	24	whereas	whereas	SCONJ
dem-11858	114	25	budget	budget	NOUN
dem-11858	114	26	deficit	deficit	NOUN
dem-11858	114	27	to	to	ADP
dem-11858	114	28	6.4	6.4	NUM
dem-11858	114	29	percent	percent	NOUN
dem-11858	114	30	of	of	ADP
dem-11858	114	31	gdp	gdp	NOUN
dem-11858	114	32	.	.	PUNCT
dem-11858	115	1	in	in	ADP
dem-11858	115	2	the	the	DET
dem-11858	115	3	case	case	NOUN
dem-11858	115	4	of	of	ADP
dem-11858	115	5	latvia	latvia	PROPN
dem-11858	115	6	,	,	PUNCT
dem-11858	115	7	which	which	PRON
dem-11858	115	8	has	have	AUX
dem-11858	115	9	been	be	AUX
dem-11858	115	10	on	on	ADP
dem-11858	115	11	the	the	DET
dem-11858	115	12	map	map	NOUN
dem-11858	115	13	of	of	ADP
dem-11858	115	14	europe	europe	PROPN
dem-11858	115	15	for	for	ADP
dem-11858	115	16	less	less	ADJ
dem-11858	115	17	than	than	ADP
dem-11858	115	18	twenty	twenty	NUM
dem-11858	115	19	-	-	PUNCT
dem-11858	115	20	five	five	NUM
dem-11858	115	21	years	year	NOUN
dem-11858	115	22	,	,	PUNCT
dem-11858	115	23	these	these	DET
dem-11858	115	24	indicaireland	indicaireland	NOUN
dem-11858	115	25	great	great	ADJ
dem-11858	115	26	britain	britain	PROPN
dem-11858	115	27	spainportugal	spainportugal	PROPN
dem-11858	115	28	luxemb	luxemb	PROPN
dem-11858	115	29	.	.	PUNCT
dem-11858	116	1	belgium	belgium	PROPN
dem-11858	116	2	netherl	netherl	PROPN
dem-11858	116	3	.	.	PUNCT
dem-11858	117	1	germany	germany	PROPN
dem-11858	117	2	denmark	denmark	PROPN
dem-11858	117	3	sweden	sweden	PROPN
dem-11858	117	4	finland	finland	PROPN
dem-11858	117	5	estonia	estonia	PROPN
dem-11858	117	6	latvia	latvia	PROPN
dem-11858	117	7	lithuania	lithuania	PROPN
dem-11858	117	8	poland	poland	PROPN
dem-11858	117	9	cyprus	cyprus	PROPN
dem-11858	117	10	malta	malta	PROPN
dem-11858	117	11	czech	czech	PROPN
dem-11858	117	12	rep	rep	PROPN
dem-11858	117	13	.	.	PROPN
dem-11858	117	14	romania	romania	PROPN
dem-11858	117	15	bulgaria	bulgaria	PROPN
dem-11858	117	16	greece	greece	PROPN
dem-11858	117	17	italy	italy	PROPN
dem-11858	117	18	austria	austria	PROPN
dem-11858	117	19	slovenia	slovenia	PROPN
dem-11858	117	20	slovakia	slovakia	PROPN
dem-11858	117	21	croatia	croatia	PROPN
dem-11858	117	22	hungary	hungary	PROPN
dem-11858	117	23	2006	2006	NUM
dem-11858	117	24	2007	2007	NUM
dem-11858	117	25	2008	2008	NUM
dem-11858	117	26	2009	2009	NUM
dem-11858	117	27	2010	2010	NUM
dem-11858	117	28	2013	2013	NUM
dem-11858	117	29	20142011	20142011	NUM
dem-11858	117	30	2012	2012	NUM
dem-11858	117	31	2015	2015	NUM
dem-11858	117	32	france	france	PROPN
dem-11858	117	33	elżbieta	elżbieta	PROPN
dem-11858	117	34	szulc	szulc	PROPN
dem-11858	117	35	,	,	PUNCT
dem-11858	117	36	dagna	dagna	VERB
dem-11858	117	37	wleklińska	wleklińska	NOUN
dem-11858	117	38	,	,	PUNCT
dem-11858	117	39	karolina	karolina	PROPN
dem-11858	117	40	górna	górna	PROPN
dem-11858	117	41	dynamic	dynamic	ADJ
dem-11858	117	42	econometric	econometric	ADJ
dem-11858	117	43	models	model	NOUN
dem-11858	117	44	16	16	NUM
dem-11858	117	45	(	(	PUNCT
dem-11858	117	46	2016	2016	NUM
dem-11858	117	47	)	)	PUNCT
dem-11858	117	48	165–187	165–187	NUM
dem-11858	117	49	174	174	NUM
dem-11858	117	50	tors	tor	NOUN
dem-11858	117	51	were	be	AUX
dem-11858	117	52	44.7	44.7	NUM
dem-11858	117	53	percent	percent	NOUN
dem-11858	117	54	of	of	ADP
dem-11858	117	55	gdp	gdp	NOUN
dem-11858	117	56	and	and	CCONJ
dem-11858	117	57	6.4	6.4	NUM
dem-11858	117	58	percent	percent	NOUN
dem-11858	117	59	of	of	ADP
dem-11858	117	60	gdp	gdp	NOUN
dem-11858	117	61	,	,	PUNCT
dem-11858	117	62	respectively	respectively	ADV
dem-11858	117	63	.	.	PUNCT
dem-11858	118	1	in	in	ADP
dem-11858	118	2	the	the	DET
dem-11858	118	3	same	same	ADJ
dem-11858	118	4	period	period	NOUN
dem-11858	118	5	,	,	PUNCT
dem-11858	118	6	the	the	DET
dem-11858	118	7	united	united	ADJ
dem-11858	118	8	kingdom	kingdom	PROPN
dem-11858	118	9	,	,	PUNCT
dem-11858	118	10	which	which	PRON
dem-11858	118	11	is	be	AUX
dem-11858	118	12	one	one	NUM
dem-11858	118	13	of	of	ADP
dem-11858	118	14	the	the	DET
dem-11858	118	15	most	most	ADV
dem-11858	118	16	developed	develop	VERB
dem-11858	118	17	countries	country	NOUN
dem-11858	118	18	of	of	ADP
dem-11858	118	19	the	the	DET
dem-11858	118	20	world	world	NOUN
dem-11858	118	21	,	,	PUNCT
dem-11858	118	22	made	make	VERB
dem-11858	118	23	use	use	NOUN
dem-11858	118	24	of	of	ADP
dem-11858	118	25	external	external	ADJ
dem-11858	118	26	financing	financing	NOUN
dem-11858	118	27	to	to	PART
dem-11858	118	28	cover	cover	VERB
dem-11858	118	29	the	the	DET
dem-11858	118	30	budget	budget	NOUN
dem-11858	118	31	deficit	deficit	NOUN
dem-11858	118	32	of	of	ADP
dem-11858	118	33	ten	ten	NUM
dem-11858	118	34	percent	percent	NOUN
dem-11858	118	35	of	of	ADP
dem-11858	118	36	the	the	DET
dem-11858	118	37	gross	gross	ADJ
dem-11858	118	38	domestic	domestic	ADJ
dem-11858	118	39	product	product	NOUN
dem-11858	118	40	,	,	PUNCT
dem-11858	118	41	with	with	ADP
dem-11858	118	42	the	the	DET
dem-11858	118	43	debt	debt	NOUN
dem-11858	118	44	level	level	NOUN
dem-11858	118	45	reaching	reach	VERB
dem-11858	118	46	82.5	82.5	NUM
dem-11858	118	47	percent	percent	NOUN
dem-11858	118	48	.	.	PUNCT
dem-11858	119	1	it	it	PRON
dem-11858	119	2	should	should	AUX
dem-11858	119	3	be	be	AUX
dem-11858	119	4	noted	note	VERB
dem-11858	119	5	,	,	PUNCT
dem-11858	119	6	however	however	ADV
dem-11858	119	7	,	,	PUNCT
dem-11858	119	8	that	that	SCONJ
dem-11858	119	9	the	the	DET
dem-11858	119	10	level	level	NOUN
dem-11858	119	11	of	of	ADP
dem-11858	119	12	debt	debt	NOUN
dem-11858	119	13	which	which	PRON
dem-11858	119	14	is	be	AUX
dem-11858	119	15	safe	safe	ADJ
dem-11858	119	16	from	from	ADP
dem-11858	119	17	the	the	DET
dem-11858	119	18	point	point	NOUN
dem-11858	119	19	of	of	ADP
dem-11858	119	20	view	view	NOUN
dem-11858	119	21	of	of	ADP
dem-11858	119	22	an	an	DET
dem-11858	119	23	investor	investor	NOUN
dem-11858	119	24	and	and	CCONJ
dem-11858	119	25	creates	create	VERB
dem-11858	119	26	an	an	DET
dem-11858	119	27	incentive	incentive	NOUN
dem-11858	119	28	to	to	PART
dem-11858	119	29	invest	invest	VERB
dem-11858	119	30	in	in	ADP
dem-11858	119	31	the	the	DET
dem-11858	119	32	bonds	bond	NOUN
dem-11858	119	33	of	of	ADP
dem-11858	119	34	a	a	DET
dem-11858	119	35	given	give	VERB
dem-11858	119	36	country	country	NOUN
dem-11858	119	37	may	may	AUX
dem-11858	119	38	suddenly	suddenly	ADV
dem-11858	119	39	change	change	VERB
dem-11858	119	40	.	.	PUNCT
dem-11858	120	1	an	an	DET
dem-11858	120	2	example	example	NOUN
dem-11858	120	3	would	would	AUX
dem-11858	120	4	be	be	AUX
dem-11858	120	5	the	the	DET
dem-11858	120	6	situation	situation	NOUN
dem-11858	120	7	of	of	ADP
dem-11858	120	8	greece	greece	PROPN
dem-11858	120	9	before	before	ADP
dem-11858	120	10	the	the	DET
dem-11858	120	11	outbreak	outbreak	NOUN
dem-11858	120	12	of	of	ADP
dem-11858	120	13	the	the	DET
dem-11858	120	14	financial	financial	ADJ
dem-11858	120	15	crisis	crisis	NOUN
dem-11858	120	16	,	,	PUNCT
dem-11858	120	17	whose	whose	DET
dem-11858	120	18	bonds	bond	NOUN
dem-11858	120	19	were	be	AUX
dem-11858	120	20	very	very	ADV
dem-11858	120	21	popular	popular	ADJ
dem-11858	120	22	among	among	ADP
dem-11858	120	23	investors	investor	NOUN
dem-11858	120	24	despite	despite	SCONJ
dem-11858	120	25	the	the	DET
dem-11858	120	26	fact	fact	NOUN
dem-11858	120	27	that	that	SCONJ
dem-11858	120	28	the	the	DET
dem-11858	120	29	public	public	ADJ
dem-11858	120	30	debt	debt	NOUN
dem-11858	120	31	was	be	AUX
dem-11858	120	32	oscillating	oscillate	VERB
dem-11858	120	33	within	within	ADP
dem-11858	120	34	the	the	DET
dem-11858	120	35	range	range	NOUN
dem-11858	120	36	of	of	ADP
dem-11858	120	37	one	one	NUM
dem-11858	120	38	hundred	hundred	NUM
dem-11858	120	39	percent	percent	NOUN
dem-11858	120	40	of	of	ADP
dem-11858	120	41	gross	gross	ADJ
dem-11858	120	42	domestic	domestic	ADJ
dem-11858	120	43	product	product	NOUN
dem-11858	120	44	.	.	PUNCT
dem-11858	121	1	the	the	DET
dem-11858	121	2	escalation	escalation	NOUN
dem-11858	121	3	of	of	ADP
dem-11858	121	4	the	the	DET
dem-11858	121	5	crisis	crisis	NOUN
dem-11858	121	6	raised	raise	VERB
dem-11858	121	7	uncertainty	uncertainty	NOUN
dem-11858	121	8	among	among	ADP
dem-11858	121	9	investors	investor	NOUN
dem-11858	121	10	and	and	CCONJ
dem-11858	121	11	as	as	ADP
dem-11858	121	12	a	a	DET
dem-11858	121	13	consequence	consequence	NOUN
dem-11858	121	14	the	the	DET
dem-11858	121	15	deficit	deficit	NOUN
dem-11858	121	16	and	and	CCONJ
dem-11858	121	17	the	the	DET
dem-11858	121	18	value	value	NOUN
dem-11858	121	19	of	of	ADP
dem-11858	121	20	the	the	DET
dem-11858	121	21	public	public	ADJ
dem-11858	121	22	debt	debt	NOUN
dem-11858	121	23	of	of	ADP
dem-11858	121	24	greece	greece	PROPN
dem-11858	121	25	rose	rise	VERB
dem-11858	121	26	sharply	sharply	ADV
dem-11858	121	27	thus	thus	ADV
dem-11858	121	28	discouraging	discourage	VERB
dem-11858	121	29	investors	investor	NOUN
dem-11858	121	30	to	to	PART
dem-11858	121	31	make	make	VERB
dem-11858	121	32	further	further	ADJ
dem-11858	121	33	investments	investment	NOUN
dem-11858	121	34	and	and	CCONJ
dem-11858	121	35	bringing	bring	VERB
dem-11858	121	36	the	the	DET
dem-11858	121	37	country	country	NOUN
dem-11858	121	38	to	to	ADP
dem-11858	121	39	the	the	DET
dem-11858	121	40	brink	brink	NOUN
dem-11858	121	41	of	of	ADP
dem-11858	121	42	bankruptcy	bankruptcy	NOUN
dem-11858	121	43	.	.	PUNCT
dem-11858	122	1	figure	figure	NOUN
dem-11858	122	2	2	2	NUM
dem-11858	122	3	.	.	PUNCT
dem-11858	122	4	bar	bar	NOUN
dem-11858	122	5	charts	chart	NOUN
dem-11858	122	6	of	of	ADP
dem-11858	122	7	deficit	deficit	NOUN
dem-11858	122	8	to	to	ADP
dem-11858	122	9	gdp	gdp	NOUN
dem-11858	122	10	ratio	ratio	NOUN
dem-11858	122	11	in	in	ADP
dem-11858	122	12	the	the	DET
dem-11858	122	13	years	year	NOUN
dem-11858	122	14	2006–2015	2006–2015	NUM
dem-11858	122	15	it	it	PRON
dem-11858	122	16	can	can	AUX
dem-11858	122	17	be	be	AUX
dem-11858	122	18	concluded	conclude	VERB
dem-11858	122	19	that	that	SCONJ
dem-11858	122	20	if	if	SCONJ
dem-11858	122	21	the	the	DET
dem-11858	122	22	level	level	NOUN
dem-11858	122	23	of	of	ADP
dem-11858	122	24	indebtedness	indebtedness	NOUN
dem-11858	122	25	of	of	ADP
dem-11858	122	26	a	a	DET
dem-11858	122	27	country	country	NOUN
dem-11858	122	28	exceeds	exceed	VERB
dem-11858	122	29	one	one	NUM
dem-11858	122	30	hundred	hundred	NUM
dem-11858	122	31	percent	percent	NOUN
dem-11858	122	32	of	of	ADP
dem-11858	122	33	the	the	DET
dem-11858	122	34	gross	gross	ADJ
dem-11858	122	35	domestic	domestic	ADJ
dem-11858	122	36	product	product	NOUN
dem-11858	122	37	with	with	ADP
dem-11858	122	38	the	the	DET
dem-11858	122	39	ratio	ratio	NOUN
dem-11858	122	40	of	of	ADP
dem-11858	122	41	the	the	DET
dem-11858	122	42	budget	budget	NOUN
dem-11858	122	43	deficit	deficit	NOUN
dem-11858	122	44	oscillating	oscillating	NOUN
dem-11858	122	45	within	within	ADP
dem-11858	122	46	the	the	DET
dem-11858	122	47	range	range	NOUN
dem-11858	122	48	of	of	ADP
dem-11858	122	49	ten	ten	NUM
dem-11858	122	50	percent	percent	NOUN
dem-11858	122	51	,	,	PUNCT
dem-11858	122	52	there	there	PRON
dem-11858	122	53	is	be	VERB
dem-11858	122	54	a	a	DET
dem-11858	122	55	likelihood	likelihood	NOUN
dem-11858	122	56	of	of	ADP
dem-11858	122	57	defaults	default	NOUN
dem-11858	122	58	on	on	ADP
dem-11858	122	59	receivables	receivables	NOUN
dem-11858	122	60	from	from	ADP
dem-11858	122	61	loans	loan	NOUN
dem-11858	122	62	.	.	PUNCT
dem-11858	123	1	it	it	PRON
dem-11858	123	2	should	should	AUX
dem-11858	123	3	be	be	AUX
dem-11858	123	4	emphasized	emphasize	VERB
dem-11858	123	5	that	that	SCONJ
dem-11858	123	6	if	if	SCONJ
dem-11858	123	7	,	,	PUNCT
dem-11858	123	8	on	on	ADP
dem-11858	123	9	a	a	DET
dem-11858	123	10	yearly	yearly	ADJ
dem-11858	123	11	basis	basis	NOUN
dem-11858	123	12	,	,	PUNCT
dem-11858	123	13	a	a	DET
dem-11858	123	14	country	country	NOUN
dem-11858	123	15	emits	emit	VERB
dem-11858	123	16	bonds	bond	NOUN
dem-11858	123	17	with	with	ADP
dem-11858	123	18	a	a	DET
dem-11858	123	19	value	value	NOUN
dem-11858	123	20	equal	equal	ADJ
dem-11858	123	21	to	to	ADP
dem-11858	123	22	or	or	CCONJ
dem-11858	123	23	exceeding	exceed	VERB
dem-11858	123	24	the	the	DET
dem-11858	123	25	level	level	NOUN
dem-11858	123	26	of	of	ADP
dem-11858	123	27	gdp	gdp	NOUN
dem-11858	123	28	and	and	CCONJ
dem-11858	123	29	then	then	ADV
dem-11858	123	30	repays	repay	VERB
dem-11858	123	31	them	they	PRON
dem-11858	123	32	along	along	ADV
dem-11858	123	33	with	with	ADP
dem-11858	123	34	the	the	DET
dem-11858	123	35	interest	interest	NOUN
dem-11858	123	36	through	through	ADP
dem-11858	123	37	the	the	DET
dem-11858	123	38	issuance	issuance	NOUN
dem-11858	123	39	of	of	ADP
dem-11858	123	40	new	new	ADJ
dem-11858	123	41	securities	security	NOUN
dem-11858	123	42	,	,	PUNCT
dem-11858	123	43	as	as	ADV
dem-11858	123	44	long	long	ADV
dem-11858	123	45	as	as	SCONJ
dem-11858	123	46	the	the	DET
dem-11858	123	47	rate	rate	NOUN
dem-11858	123	48	of	of	ADP
dem-11858	123	49	economic	economic	ADJ
dem-11858	123	50	growth	growth	NOUN
dem-11858	123	51	is	be	AUX
dem-11858	123	52	higher	high	ADJ
dem-11858	123	53	than	than	ADP
dem-11858	123	54	ireland	ireland	PROPN
dem-11858	123	55	great	great	ADJ
dem-11858	123	56	britain	britain	PROPN
dem-11858	123	57	spain	spain	PROPN
dem-11858	123	58	portugal	portugal	PROPN
dem-11858	123	59	luxemb	luxemb	PROPN
dem-11858	123	60	.	.	PUNCT
dem-11858	124	1	belgium	belgium	PROPN
dem-11858	124	2	netherl	netherl	PROPN
dem-11858	124	3	.	.	PUNCT
dem-11858	125	1	germany	germany	PROPN
dem-11858	125	2	denmark	denmark	PROPN
dem-11858	125	3	sweden	sweden	PROPN
dem-11858	125	4	finland	finland	PROPN
dem-11858	125	5	estonia	estonia	PROPN
dem-11858	125	6	latvia	latvia	PROPN
dem-11858	125	7	lithuania	lithuania	PROPN
dem-11858	125	8	poland	poland	PROPN
dem-11858	125	9	cyprus	cyprus	PROPN
dem-11858	125	10	malta	malta	PROPN
dem-11858	125	11	czech	czech	PROPN
dem-11858	125	12	rep	rep	PROPN
dem-11858	125	13	.	.	PROPN
dem-11858	125	14	romania	romania	PROPN
dem-11858	125	15	bulgaria	bulgaria	PROPN
dem-11858	125	16	greece	greece	PROPN
dem-11858	125	17	italy	italy	PROPN
dem-11858	125	18	austria	austria	PROPN
dem-11858	125	19	slovenia	slovenia	PROPN
dem-11858	125	20	slovakia	slovakia	PROPN
dem-11858	125	21	croatia	croatia	PROPN
dem-11858	125	22	hungary	hungary	PROPN
dem-11858	125	23	2006	2006	NUM
dem-11858	125	24	2007	2007	NUM
dem-11858	125	25	2008	2008	NUM
dem-11858	125	26	2009	2009	NUM
dem-11858	125	27	2010	2010	NUM
dem-11858	125	28	2013	2013	NUM
dem-11858	125	29	20142011	20142011	NUM
dem-11858	125	30	2012	2012	NUM
dem-11858	125	31	2015	2015	NUM
dem-11858	125	32	france	france	PROPN
dem-11858	125	33	the	the	DET
dem-11858	125	34	share	share	NOUN
dem-11858	125	35	of	of	ADP
dem-11858	125	36	european	european	ADJ
dem-11858	125	37	economies	economy	NOUN
dem-11858	125	38	in	in	ADP
dem-11858	125	39	the	the	DET
dem-11858	125	40	process	process	NOUN
dem-11858	125	41	of	of	ADP
dem-11858	125	42	convergence	convergence	NOUN
dem-11858	125	43	…	…	SYM
dem-11858	125	44	dynamic	dynamic	ADJ
dem-11858	125	45	econometric	econometric	ADJ
dem-11858	125	46	models	model	NOUN
dem-11858	125	47	16	16	NUM
dem-11858	125	48	(	(	PUNCT
dem-11858	125	49	2016	2016	NUM
dem-11858	125	50	)	)	PUNCT
dem-11858	125	51	165–187	165–187	NUM
dem-11858	125	52	175	175	NUM
dem-11858	125	53	the	the	DET
dem-11858	125	54	cost	cost	NOUN
dem-11858	125	55	of	of	ADP
dem-11858	125	56	debt	debt	NOUN
dem-11858	125	57	operation	operation	NOUN
dem-11858	125	58	,	,	PUNCT
dem-11858	125	59	i.e.	i.e.	X
dem-11858	125	60	the	the	DET
dem-11858	125	61	interest	interest	NOUN
dem-11858	125	62	rates	rate	NOUN
dem-11858	125	63	on	on	ADP
dem-11858	125	64	the	the	DET
dem-11858	125	65	issued	issue	VERB
dem-11858	125	66	government	government	NOUN
dem-11858	125	67	bonds	bond	NOUN
dem-11858	125	68	,	,	PUNCT
dem-11858	125	69	this	this	DET
dem-11858	125	70	mechanism	mechanism	NOUN
dem-11858	125	71	will	will	AUX
dem-11858	125	72	be	be	AUX
dem-11858	125	73	repeated	repeat	VERB
dem-11858	125	74	periodically	periodically	ADV
dem-11858	125	75	whenever	whenever	SCONJ
dem-11858	125	76	such	such	DET
dem-11858	125	77	a	a	DET
dem-11858	125	78	necessity	necessity	NOUN
dem-11858	125	79	arises	arise	VERB
dem-11858	125	80	.	.	PUNCT
dem-11858	126	1	this	this	DET
dem-11858	126	2	practice	practice	NOUN
dem-11858	126	3	was	be	AUX
dem-11858	126	4	used	use	VERB
dem-11858	126	5	by	by	ADP
dem-11858	126	6	many	many	ADJ
dem-11858	126	7	european	european	ADJ
dem-11858	126	8	economies	economy	NOUN
dem-11858	126	9	,	,	PUNCT
dem-11858	126	10	some	some	PRON
dem-11858	126	11	of	of	ADP
dem-11858	126	12	which	which	PRON
dem-11858	126	13	implemented	implement	VERB
dem-11858	126	14	it	it	PRON
dem-11858	126	15	at	at	ADP
dem-11858	126	16	a	a	DET
dem-11858	126	17	significantly	significantly	ADV
dem-11858	126	18	higher	high	ADJ
dem-11858	126	19	level	level	NOUN
dem-11858	126	20	of	of	ADP
dem-11858	126	21	debt	debt	NOUN
dem-11858	126	22	,	,	PUNCT
dem-11858	126	23	such	such	ADJ
dem-11858	126	24	as	as	ADP
dem-11858	126	25	italy	italy	PROPN
dem-11858	126	26	,	,	PUNCT
dem-11858	126	27	greece	greece	PROPN
dem-11858	126	28	,	,	PUNCT
dem-11858	126	29	and	and	CCONJ
dem-11858	126	30	portugal	portugal	PROPN
dem-11858	126	31	.	.	PUNCT
dem-11858	127	1	figures	figure	NOUN
dem-11858	127	2	3	3	NUM
dem-11858	127	3	and	and	CCONJ
dem-11858	127	4	4	4	NUM
dem-11858	127	5	show	show	VERB
dem-11858	127	6	the	the	DET
dem-11858	127	7	development	development	NOUN
dem-11858	127	8	of	of	ADP
dem-11858	127	9	ten	ten	NUM
dem-11858	127	10	-	-	PUNCT
dem-11858	127	11	year	year	NOUN
dem-11858	127	12	yield	yield	NOUN
dem-11858	127	13	spreads	spread	NOUN
dem-11858	127	14	of	of	ADP
dem-11858	127	15	government	government	NOUN
dem-11858	127	16	bonds	bond	NOUN
dem-11858	127	17	of	of	ADP
dem-11858	127	18	the	the	DET
dem-11858	127	19	eu	eu	PROPN
dem-11858	127	20	member	member	NOUN
dem-11858	127	21	states	state	NOUN
dem-11858	127	22	in	in	ADP
dem-11858	127	23	the	the	DET
dem-11858	127	24	period	period	NOUN
dem-11858	127	25	between	between	ADP
dem-11858	127	26	january	january	PROPN
dem-11858	127	27	2006	2006	NUM
dem-11858	127	28	and	and	CCONJ
dem-11858	127	29	november	november	PROPN
dem-11858	127	30	2016	2016	NUM
dem-11858	127	31	.	.	PUNCT
dem-11858	128	1	as	as	SCONJ
dem-11858	128	2	it	it	PRON
dem-11858	128	3	was	be	AUX
dem-11858	128	4	mentioned	mention	VERB
dem-11858	128	5	above	above	ADV
dem-11858	128	6	,	,	PUNCT
dem-11858	128	7	due	due	ADP
dem-11858	128	8	to	to	ADP
dem-11858	128	9	the	the	DET
dem-11858	128	10	unavailability	unavailability	NOUN
dem-11858	128	11	of	of	ADP
dem-11858	128	12	data	datum	NOUN
dem-11858	128	13	the	the	DET
dem-11858	128	14	analysis	analysis	NOUN
dem-11858	128	15	does	do	AUX
dem-11858	128	16	not	not	PART
dem-11858	128	17	include	include	VERB
dem-11858	128	18	estonia	estonia	PROPN
dem-11858	128	19	.	.	PUNCT
dem-11858	129	1	in	in	ADP
dem-11858	129	2	order	order	NOUN
dem-11858	129	3	to	to	PART
dem-11858	129	4	maintain	maintain	VERB
dem-11858	129	5	sufficient	sufficient	ADJ
dem-11858	129	6	transparency	transparency	NOUN
dem-11858	129	7	of	of	ADP
dem-11858	129	8	the	the	DET
dem-11858	129	9	presented	present	VERB
dem-11858	129	10	data	datum	NOUN
dem-11858	129	11	included	include	VERB
dem-11858	129	12	in	in	ADP
dem-11858	129	13	the	the	DET
dem-11858	129	14	analysis	analysis	NOUN
dem-11858	129	15	the	the	DET
dem-11858	129	16	states	state	NOUN
dem-11858	129	17	are	be	AUX
dem-11858	129	18	divided	divide	VERB
dem-11858	129	19	into	into	ADP
dem-11858	129	20	two	two	NUM
dem-11858	129	21	groups	group	NOUN
dem-11858	129	22	.	.	PUNCT
dem-11858	130	1	the	the	DET
dem-11858	130	2	vertical	vertical	ADJ
dem-11858	130	3	line	line	NOUN
dem-11858	130	4	on	on	ADP
dem-11858	130	5	both	both	DET
dem-11858	130	6	graphs	graph	NOUN
dem-11858	130	7	corresponds	correspond	VERB
dem-11858	130	8	to	to	ADP
dem-11858	130	9	the	the	DET
dem-11858	130	10	temporal	temporal	ADJ
dem-11858	130	11	division	division	NOUN
dem-11858	130	12	into	into	ADP
dem-11858	130	13	two	two	NUM
dem-11858	130	14	sub	sub	ADJ
dem-11858	130	15	-	-	ADJ
dem-11858	130	16	periods	period	NOUN
dem-11858	130	17	adopted	adopt	VERB
dem-11858	130	18	in	in	ADP
dem-11858	130	19	this	this	DET
dem-11858	130	20	study	study	NOUN
dem-11858	130	21	.	.	PUNCT
dem-11858	131	1	the	the	DET
dem-11858	131	2	behaviour	behaviour	NOUN
dem-11858	131	3	of	of	ADP
dem-11858	131	4	the	the	DET
dem-11858	131	5	european	european	ADJ
dem-11858	131	6	government	government	NOUN
dem-11858	131	7	bonds	bond	NOUN
dem-11858	131	8	market	market	NOUN
dem-11858	131	9	in	in	ADP
dem-11858	131	10	the	the	DET
dem-11858	131	11	period	period	NOUN
dem-11858	131	12	of	of	ADP
dem-11858	131	13	20062016	20062016	PROPN
dem-11858	131	14	was	be	AUX
dem-11858	131	15	determined	determine	VERB
dem-11858	131	16	to	to	ADP
dem-11858	131	17	a	a	DET
dem-11858	131	18	large	large	ADJ
dem-11858	131	19	extent	extent	NOUN
dem-11858	131	20	by	by	ADP
dem-11858	131	21	an	an	DET
dem-11858	131	22	increase	increase	NOUN
dem-11858	131	23	in	in	ADP
dem-11858	131	24	the	the	DET
dem-11858	131	25	overall	overall	ADJ
dem-11858	131	26	risk	risk	NOUN
dem-11858	131	27	level	level	NOUN
dem-11858	131	28	,	,	PUNCT
dem-11858	131	29	which	which	PRON
dem-11858	131	30	occurred	occur	VERB
dem-11858	131	31	alongside	alongside	ADP
dem-11858	131	32	the	the	DET
dem-11858	131	33	outbreak	outbreak	NOUN
dem-11858	131	34	of	of	ADP
dem-11858	131	35	the	the	DET
dem-11858	131	36	international	international	ADJ
dem-11858	131	37	financial	financial	ADJ
dem-11858	131	38	crisis	crisis	NOUN
dem-11858	131	39	.	.	PUNCT
dem-11858	132	1	the	the	DET
dem-11858	132	2	increase	increase	NOUN
dem-11858	132	3	in	in	ADP
dem-11858	132	4	the	the	DET
dem-11858	132	5	profitability	profitability	NOUN
dem-11858	132	6	of	of	ADP
dem-11858	132	7	treasury	treasury	NOUN
dem-11858	132	8	bonds	bond	NOUN
dem-11858	132	9	issued	issue	VERB
dem-11858	132	10	by	by	ADP
dem-11858	132	11	the	the	DET
dem-11858	132	12	member	member	NOUN
dem-11858	132	13	countries	country	NOUN
dem-11858	132	14	was	be	AUX
dem-11858	132	15	accompanied	accompany	VERB
dem-11858	132	16	by	by	ADP
dem-11858	132	17	an	an	DET
dem-11858	132	18	increase	increase	NOUN
dem-11858	132	19	in	in	ADP
dem-11858	132	20	their	their	PRON
dem-11858	132	21	diversity	diversity	NOUN
dem-11858	132	22	.	.	PUNCT
dem-11858	133	1	it	it	PRON
dem-11858	133	2	should	should	AUX
dem-11858	133	3	be	be	AUX
dem-11858	133	4	noted	note	VERB
dem-11858	133	5	however	however	ADV
dem-11858	133	6	,	,	PUNCT
dem-11858	133	7	that	that	SCONJ
dem-11858	133	8	in	in	ADP
dem-11858	133	9	the	the	DET
dem-11858	133	10	period	period	NOUN
dem-11858	133	11	preceding	precede	VERB
dem-11858	133	12	the	the	DET
dem-11858	133	13	outbreak	outbreak	NOUN
dem-11858	133	14	of	of	ADP
dem-11858	133	15	the	the	DET
dem-11858	133	16	financial	financial	ADJ
dem-11858	133	17	crisis	crisis	NOUN
dem-11858	133	18	,	,	PUNCT
dem-11858	133	19	the	the	DET
dem-11858	133	20	european	european	ADJ
dem-11858	133	21	government	government	NOUN
dem-11858	133	22	bonds	bond	NOUN
dem-11858	133	23	market	market	NOUN
dem-11858	133	24	was	be	AUX
dem-11858	133	25	seen	see	VERB
dem-11858	133	26	as	as	ADP
dem-11858	133	27	relatively	relatively	ADV
dem-11858	133	28	stable	stable	ADJ
dem-11858	133	29	.	.	PUNCT
dem-11858	134	1	for	for	ADP
dem-11858	134	2	a	a	DET
dem-11858	134	3	long	long	ADJ
dem-11858	134	4	time	time	NOUN
dem-11858	134	5	,	,	PUNCT
dem-11858	134	6	investors	investor	NOUN
dem-11858	134	7	did	do	AUX
dem-11858	134	8	not	not	PART
dem-11858	134	9	see	see	VERB
dem-11858	134	10	the	the	DET
dem-11858	134	11	signs	sign	NOUN
dem-11858	134	12	indicating	indicate	VERB
dem-11858	134	13	anything	anything	PRON
dem-11858	134	14	in	in	ADP
dem-11858	134	15	the	the	DET
dem-11858	134	16	near	near	ADJ
dem-11858	134	17	future	future	NOUN
dem-11858	134	18	that	that	PRON
dem-11858	134	19	would	would	AUX
dem-11858	134	20	shake	shake	VERB
dem-11858	134	21	the	the	DET
dem-11858	134	22	foundations	foundation	NOUN
dem-11858	134	23	of	of	ADP
dem-11858	134	24	the	the	DET
dem-11858	134	25	unified	unified	ADJ
dem-11858	134	26	europe	europe	PROPN
dem-11858	134	27	thus	thus	ADV
dem-11858	134	28	leading	lead	VERB
dem-11858	134	29	to	to	ADP
dem-11858	134	30	the	the	DET
dem-11858	134	31	debt	debt	NOUN
dem-11858	134	32	crisis	crisis	NOUN
dem-11858	134	33	.	.	PUNCT
dem-11858	135	1	starting	start	VERB
dem-11858	135	2	with	with	ADP
dem-11858	135	3	the	the	DET
dem-11858	135	4	collapse	collapse	NOUN
dem-11858	135	5	of	of	ADP
dem-11858	135	6	the	the	DET
dem-11858	135	7	lehman	lehman	PROPN
dem-11858	135	8	brothers	brothers	PROPN
dem-11858	135	9	bank	bank	PROPN
dem-11858	135	10	in	in	ADP
dem-11858	135	11	september	september	PROPN
dem-11858	135	12	2008	2008	NUM
dem-11858	135	13	,	,	PUNCT
dem-11858	135	14	we	we	PRON
dem-11858	135	15	may	may	AUX
dem-11858	135	16	observe	observe	VERB
dem-11858	135	17	a	a	DET
dem-11858	135	18	rapid	rapid	ADJ
dem-11858	135	19	and	and	CCONJ
dem-11858	135	20	progressive	progressive	ADJ
dem-11858	135	21	decompression	decompression	NOUN
dem-11858	135	22	of	of	ADP
dem-11858	135	23	the	the	DET
dem-11858	135	24	yield	yield	NOUN
dem-11858	135	25	spreads	spread	NOUN
dem-11858	135	26	of	of	ADP
dem-11858	135	27	ten	ten	NUM
dem-11858	135	28	-	-	PUNCT
dem-11858	135	29	year	year	NOUN
dem-11858	135	30	bonds	bond	NOUN
dem-11858	135	31	issued	issue	VERB
dem-11858	135	32	by	by	ADP
dem-11858	135	33	the	the	DET
dem-11858	135	34	european	european	ADJ
dem-11858	135	35	economies	economy	NOUN
dem-11858	135	36	.	.	PUNCT
dem-11858	136	1	the	the	DET
dem-11858	136	2	solvency	solvency	NOUN
dem-11858	136	3	of	of	ADP
dem-11858	136	4	each	each	DET
dem-11858	136	5	country	country	NOUN
dem-11858	136	6	was	be	AUX
dem-11858	136	7	verified	verify	VERB
dem-11858	136	8	with	with	ADP
dem-11858	136	9	the	the	DET
dem-11858	136	10	result	result	NOUN
dem-11858	136	11	of	of	ADP
dem-11858	136	12	a	a	DET
dem-11858	136	13	lowering	lowering	NOUN
dem-11858	136	14	of	of	ADP
dem-11858	136	15	their	their	PRON
dem-11858	136	16	ratings	rating	NOUN
dem-11858	136	17	,	,	PUNCT
dem-11858	136	18	both	both	PRON
dem-11858	136	19	several	several	ADJ
dem-11858	136	20	times	time	NOUN
dem-11858	136	21	in	in	ADP
dem-11858	136	22	the	the	DET
dem-11858	136	23	period	period	NOUN
dem-11858	136	24	considered	consider	VERB
dem-11858	136	25	,	,	PUNCT
dem-11858	136	26	as	as	ADV
dem-11858	136	27	well	well	ADV
dem-11858	136	28	as	as	ADP
dem-11858	136	29	one	one	NUM
dem-11858	136	30	-	-	PUNCT
dem-11858	136	31	offs	off	NOUN
dem-11858	136	32	however	however	ADV
dem-11858	136	33	by	by	ADP
dem-11858	136	34	a	a	DET
dem-11858	136	35	few	few	ADJ
dem-11858	136	36	levels	level	NOUN
dem-11858	136	37	.	.	PUNCT
dem-11858	137	1	the	the	DET
dem-11858	137	2	increase	increase	NOUN
dem-11858	137	3	in	in	ADP
dem-11858	137	4	the	the	DET
dem-11858	137	5	budget	budget	NOUN
dem-11858	137	6	deficit	deficit	NOUN
dem-11858	137	7	in	in	ADP
dem-11858	137	8	the	the	DET
dem-11858	137	9	most	most	ADV
dem-11858	137	10	indebted	indebted	ADJ
dem-11858	137	11	euro	euro	NOUN
dem-11858	137	12	zone	zone	NOUN
dem-11858	137	13	countries	country	NOUN
dem-11858	137	14	such	such	ADJ
dem-11858	137	15	as	as	ADP
dem-11858	137	16	portugal	portugal	PROPN
dem-11858	137	17	,	,	PUNCT
dem-11858	137	18	italy	italy	PROPN
dem-11858	137	19	,	,	PUNCT
dem-11858	137	20	ireland	ireland	PROPN
dem-11858	137	21	,	,	PUNCT
dem-11858	137	22	greece	greece	PROPN
dem-11858	137	23	and	and	CCONJ
dem-11858	137	24	spain	spain	PROPN
dem-11858	137	25	,	,	PUNCT
dem-11858	137	26	and	and	CCONJ
dem-11858	137	27	the	the	DET
dem-11858	137	28	growing	grow	VERB
dem-11858	137	29	borrowing	borrowing	NOUN
dem-11858	137	30	needs	need	NOUN
dem-11858	137	31	of	of	ADP
dem-11858	137	32	the	the	DET
dem-11858	137	33	public	public	ADJ
dem-11858	137	34	sector	sector	NOUN
dem-11858	137	35	in	in	ADP
dem-11858	137	36	these	these	DET
dem-11858	137	37	countries	country	NOUN
dem-11858	137	38	were	be	AUX
dem-11858	137	39	reflected	reflect	VERB
dem-11858	137	40	in	in	ADP
dem-11858	137	41	the	the	DET
dem-11858	137	42	declining	decline	VERB
dem-11858	137	43	creditworthiness	creditworthiness	NOUN
dem-11858	137	44	measured	measure	VERB
dem-11858	137	45	by	by	ADP
dem-11858	137	46	a	a	DET
dem-11858	137	47	rating	rating	NOUN
dem-11858	137	48	,	,	PUNCT
dem-11858	137	49	as	as	ADV
dem-11858	137	50	well	well	ADV
dem-11858	137	51	as	as	ADP
dem-11858	137	52	in	in	ADP
dem-11858	137	53	the	the	DET
dem-11858	137	54	growth	growth	NOUN
dem-11858	137	55	of	of	ADP
dem-11858	137	56	profitability	profitability	NOUN
dem-11858	137	57	of	of	ADP
dem-11858	137	58	bonds	bond	NOUN
dem-11858	137	59	issued	issue	VERB
dem-11858	137	60	by	by	ADP
dem-11858	137	61	them	they	PRON
dem-11858	137	62	.	.	PUNCT
dem-11858	138	1	the	the	DET
dem-11858	138	2	situation	situation	NOUN
dem-11858	138	3	in	in	ADP
dem-11858	138	4	the	the	DET
dem-11858	138	5	european	european	ADJ
dem-11858	138	6	debt	debt	NOUN
dem-11858	138	7	markets	market	NOUN
dem-11858	138	8	improved	improve	VERB
dem-11858	138	9	slightly	slightly	ADV
dem-11858	138	10	in	in	ADP
dem-11858	138	11	the	the	DET
dem-11858	138	12	summer	summer	NOUN
dem-11858	138	13	of	of	ADP
dem-11858	138	14	2010	2010	NUM
dem-11858	138	15	,	,	PUNCT
dem-11858	138	16	when	when	SCONJ
dem-11858	138	17	the	the	DET
dem-11858	138	18	prices	price	NOUN
dem-11858	138	19	of	of	ADP
dem-11858	138	20	greek	greek	ADJ
dem-11858	138	21	bonds	bond	NOUN
dem-11858	138	22	slightly	slightly	ADV
dem-11858	138	23	rose	rise	VERB
dem-11858	138	24	,	,	PUNCT
dem-11858	138	25	which	which	PRON
dem-11858	138	26	meant	mean	VERB
dem-11858	138	27	a	a	DET
dem-11858	138	28	reduction	reduction	NOUN
dem-11858	138	29	in	in	ADP
dem-11858	138	30	their	their	PRON
dem-11858	138	31	spreads	spread	NOUN
dem-11858	138	32	in	in	ADP
dem-11858	138	33	relation	relation	NOUN
dem-11858	138	34	to	to	ADP
dem-11858	138	35	german	german	ADJ
dem-11858	138	36	securities	security	NOUN
dem-11858	138	37	.	.	PUNCT
dem-11858	139	1	it	it	PRON
dem-11858	139	2	was	be	AUX
dem-11858	139	3	expected	expect	VERB
dem-11858	139	4	that	that	SCONJ
dem-11858	139	5	the	the	DET
dem-11858	139	6	system	system	NOUN
dem-11858	139	7	procedures	procedure	NOUN
dem-11858	139	8	of	of	ADP
dem-11858	139	9	the	the	DET
dem-11858	139	10	european	european	PROPN
dem-11858	139	11	union	union	PROPN
dem-11858	139	12	and	and	CCONJ
dem-11858	139	13	the	the	DET
dem-11858	139	14	global	global	ADJ
dem-11858	139	15	initiatives	initiative	NOUN
dem-11858	139	16	taken	take	VERB
dem-11858	139	17	by	by	ADP
dem-11858	139	18	the	the	DET
dem-11858	139	19	g-20	g-20	NOUN
dem-11858	139	20	are	be	AUX
dem-11858	139	21	starting	start	VERB
dem-11858	139	22	to	to	PART
dem-11858	139	23	deliver	deliver	VERB
dem-11858	139	24	the	the	DET
dem-11858	139	25	expected	expect	VERB
dem-11858	139	26	results	result	NOUN
dem-11858	139	27	and	and	CCONJ
dem-11858	139	28	have	have	VERB
dem-11858	139	29	a	a	DET
dem-11858	139	30	calming	calming	ADJ
dem-11858	139	31	effect	effect	NOUN
dem-11858	139	32	on	on	ADP
dem-11858	139	33	the	the	DET
dem-11858	139	34	international	international	ADJ
dem-11858	139	35	financial	financial	ADJ
dem-11858	139	36	market	market	NOUN
dem-11858	139	37	.	.	PUNCT
dem-11858	140	1	since	since	SCONJ
dem-11858	140	2	the	the	DET
dem-11858	140	3	beginning	beginning	NOUN
dem-11858	140	4	of	of	ADP
dem-11858	140	5	2011	2011	NUM
dem-11858	140	6	,	,	PUNCT
dem-11858	140	7	however	however	ADV
dem-11858	140	8	,	,	PUNCT
dem-11858	140	9	the	the	DET
dem-11858	140	10	crisis	crisis	NOUN
dem-11858	140	11	has	have	AUX
dem-11858	140	12	entered	enter	VERB
dem-11858	140	13	a	a	DET
dem-11858	140	14	new	new	ADJ
dem-11858	140	15	phase	phase	NOUN
dem-11858	140	16	leading	lead	VERB
dem-11858	140	17	to	to	ADP
dem-11858	140	18	a	a	DET
dem-11858	140	19	continuous	continuous	ADJ
dem-11858	140	20	elżbieta	elżbieta	ADJ
dem-11858	140	21	szulc	szulc	PROPN
dem-11858	140	22	,	,	PUNCT
dem-11858	140	23	dagna	dagna	VERB
dem-11858	140	24	wleklińska	wleklińska	NOUN
dem-11858	140	25	,	,	PUNCT
dem-11858	140	26	karolina	karolina	PROPN
dem-11858	140	27	górna	górna	PROPN
dem-11858	140	28	dynamic	dynamic	ADJ
dem-11858	140	29	econometric	econometric	ADJ
dem-11858	140	30	models	model	NOUN
dem-11858	140	31	16	16	NUM
dem-11858	140	32	(	(	PUNCT
dem-11858	140	33	2016	2016	NUM
dem-11858	140	34	)	)	PUNCT
dem-11858	140	35	165–187	165–187	NUM
dem-11858	140	36	176	176	NUM
dem-11858	140	37	increase	increase	NOUN
dem-11858	140	38	in	in	ADP
dem-11858	140	39	the	the	DET
dem-11858	140	40	spreads	spread	NOUN
dem-11858	140	41	of	of	ADP
dem-11858	140	42	irish	irish	ADJ
dem-11858	140	43	and	and	CCONJ
dem-11858	140	44	portuguese	portuguese	ADJ
dem-11858	140	45	bonds	bond	NOUN
dem-11858	140	46	.	.	PUNCT
dem-11858	141	1	similarly	similarly	ADV
dem-11858	141	2	,	,	PUNCT
dem-11858	141	3	the	the	DET
dem-11858	141	4	profitability	profitability	NOUN
dem-11858	141	5	of	of	ADP
dem-11858	141	6	greek	greek	ADJ
dem-11858	141	7	ten	ten	NUM
dem-11858	141	8	-	-	PUNCT
dem-11858	141	9	year	year	NOUN
dem-11858	141	10	bonds	bond	NOUN
dem-11858	141	11	has	have	AUX
dem-11858	141	12	clearly	clearly	ADV
dem-11858	141	13	increased	increase	VERB
dem-11858	141	14	.	.	PUNCT
dem-11858	142	1	figure	figure	NOUN
dem-11858	142	2	3	3	NUM
dem-11858	142	3	.	.	PUNCT
dem-11858	142	4	yield	yield	NOUN
dem-11858	142	5	spread	spread	NOUN
dem-11858	142	6	of	of	ADP
dem-11858	142	7	ten	ten	NUM
dem-11858	142	8	-	-	PUNCT
dem-11858	142	9	year	year	NOUN
dem-11858	142	10	government	government	NOUN
dem-11858	142	11	bond	bond	NOUN
dem-11858	142	12	of	of	ADP
dem-11858	142	13	selected	select	VERB
dem-11858	142	14	european	european	PROPN
dem-11858	142	15	union	union	PROPN
dem-11858	142	16	member	member	NOUN
dem-11858	142	17	states	state	NOUN
dem-11858	142	18	in	in	ADP
dem-11858	142	19	the	the	DET
dem-11858	142	20	period	period	NOUN
dem-11858	142	21	between	between	ADP
dem-11858	142	22	01.200611.2016	01.200611.2016	NUM
dem-11858	142	23	figure	figure	NOUN
dem-11858	142	24	4	4	NUM
dem-11858	142	25	.	.	PUNCT
dem-11858	142	26	yield	yield	NOUN
dem-11858	142	27	spread	spread	NOUN
dem-11858	142	28	of	of	ADP
dem-11858	142	29	ten	ten	NUM
dem-11858	142	30	-	-	PUNCT
dem-11858	142	31	year	year	NOUN
dem-11858	142	32	government	government	NOUN
dem-11858	142	33	bond	bond	NOUN
dem-11858	142	34	of	of	ADP
dem-11858	142	35	selected	select	VERB
dem-11858	142	36	european	european	PROPN
dem-11858	142	37	union	union	PROPN
dem-11858	142	38	member	member	NOUN
dem-11858	142	39	states	state	NOUN
dem-11858	142	40	in	in	ADP
dem-11858	142	41	the	the	DET
dem-11858	142	42	period	period	NOUN
dem-11858	142	43	between	between	ADP
dem-11858	142	44	01.200611.2016	01.200611.2016	PROPN
dem-11858	142	45	(	(	PUNCT
dem-11858	142	46	cont	cont	NOUN
dem-11858	142	47	.	.	PUNCT
dem-11858	142	48	)	)	PUNCT
dem-11858	143	1	-5	-5	PUNCT
dem-11858	144	1	0	0	NUM
dem-11858	144	2	5	5	NUM
dem-11858	144	3	10	10	NUM
dem-11858	144	4	15	15	NUM
dem-11858	144	5	20	20	NUM
dem-11858	144	6	25	25	NUM
dem-11858	144	7	30	30	NUM
dem-11858	144	8	20	20	NUM
dem-11858	144	9	06	06	NUM
dem-11858	144	10	fe	fe	X
dem-11858	144	11	b	b	PROPN
dem-11858	144	12	20	20	NUM
dem-11858	144	13	06	06	NUM
dem-11858	144	14	ju	ju	NOUN
dem-11858	144	15	n	n	ADV
dem-11858	144	16	20	20	NUM
dem-11858	144	17	0	0	NUM
dem-11858	144	18	6o	6o	NUM
dem-11858	144	19	ct	ct	NUM
dem-11858	144	20	20	20	NUM
dem-11858	144	21	07	07	NUM
dem-11858	144	22	fe	fe	PROPN
dem-11858	144	23	b	b	PROPN
dem-11858	144	24	20	20	NUM
dem-11858	144	25	07	07	NUM
dem-11858	144	26	ju	ju	PROPN
dem-11858	144	27	n	n	ADV
dem-11858	144	28	20	20	NUM
dem-11858	144	29	0	0	NUM
dem-11858	144	30	7o	7o	NUM
dem-11858	144	31	ct	ct	NUM
dem-11858	144	32	20	20	NUM
dem-11858	144	33	08	08	NUM
dem-11858	144	34	fe	fe	PROPN
dem-11858	144	35	b	b	PROPN
dem-11858	144	36	20	20	NUM
dem-11858	144	37	08	08	NUM
dem-11858	144	38	ju	ju	NOUN
dem-11858	144	39	n	n	ADV
dem-11858	144	40	20	20	NUM
dem-11858	144	41	0	0	NUM
dem-11858	144	42	8o	8o	NUM
dem-11858	144	43	ct	ct	NUM
dem-11858	144	44	20	20	NUM
dem-11858	144	45	09	09	NUM
dem-11858	144	46	fe	fe	NOUN
dem-11858	144	47	b	b	PROPN
dem-11858	144	48	20	20	NUM
dem-11858	144	49	09	09	NUM
dem-11858	144	50	ju	ju	NOUN
dem-11858	144	51	n	n	ADV
dem-11858	144	52	20	20	NUM
dem-11858	144	53	0	0	NUM
dem-11858	144	54	9o	9o	NOUN
dem-11858	144	55	ct	ct	NOUN
dem-11858	144	56	20	20	NUM
dem-11858	144	57	10	10	NUM
dem-11858	144	58	fe	fe	NOUN
dem-11858	144	59	b	b	PROPN
dem-11858	144	60	20	20	NUM
dem-11858	144	61	10	10	NUM
dem-11858	144	62	ju	ju	NOUN
dem-11858	144	63	n	n	ADV
dem-11858	144	64	20	20	NUM
dem-11858	144	65	1	1	NUM
dem-11858	144	66	0o	0o	NUM
dem-11858	144	67	ct	ct	NUM
dem-11858	144	68	20	20	NUM
dem-11858	144	69	11	11	NUM
dem-11858	144	70	fe	fe	X
dem-11858	144	71	b	b	PROPN
dem-11858	144	72	20	20	NUM
dem-11858	144	73	11	11	NUM
dem-11858	144	74	ju	ju	NOUN
dem-11858	144	75	n	n	ADV
dem-11858	144	76	20	20	NUM
dem-11858	144	77	1	1	NUM
dem-11858	144	78	1o	1o	NUM
dem-11858	144	79	ct	ct	NUM
dem-11858	144	80	20	20	NUM
dem-11858	144	81	12	12	NUM
dem-11858	144	82	fe	fe	NOUN
dem-11858	144	83	b	b	PROPN
dem-11858	144	84	20	20	NUM
dem-11858	144	85	12	12	NUM
dem-11858	144	86	ju	ju	NOUN
dem-11858	144	87	n	n	ADV
dem-11858	144	88	20	20	NUM
dem-11858	144	89	1	1	NUM
dem-11858	144	90	2o	2o	NOUN
dem-11858	144	91	ct	ct	NUM
dem-11858	144	92	20	20	NUM
dem-11858	144	93	13	13	NUM
dem-11858	144	94	fe	fe	X
dem-11858	144	95	b	b	PROPN
dem-11858	144	96	20	20	NUM
dem-11858	144	97	13	13	NUM
dem-11858	144	98	ju	ju	NOUN
dem-11858	144	99	n	n	ADV
dem-11858	144	100	20	20	NUM
dem-11858	144	101	1	1	NUM
dem-11858	144	102	3o	3o	NUM
dem-11858	144	103	ct	ct	NUM
dem-11858	144	104	20	20	NUM
dem-11858	144	105	14	14	NUM
dem-11858	144	106	fe	fe	NOUN
dem-11858	144	107	b	b	PROPN
dem-11858	144	108	20	20	NUM
dem-11858	144	109	14	14	NUM
dem-11858	144	110	ju	ju	NOUN
dem-11858	144	111	n	n	ADV
dem-11858	144	112	20	20	NUM
dem-11858	144	113	1	1	NUM
dem-11858	144	114	4o	4o	NUM
dem-11858	144	115	ct	ct	NUM
dem-11858	144	116	20	20	NUM
dem-11858	144	117	15	15	NUM
dem-11858	144	118	fe	fe	X
dem-11858	144	119	b	b	PROPN
dem-11858	144	120	20	20	NUM
dem-11858	144	121	15	15	NUM
dem-11858	144	122	ju	ju	NOUN
dem-11858	144	123	n	n	ADV
dem-11858	144	124	20	20	NUM
dem-11858	144	125	1	1	NUM
dem-11858	144	126	5o	5o	NUM
dem-11858	144	127	ct	ct	NUM
dem-11858	144	128	20	20	NUM
dem-11858	144	129	16	16	NUM
dem-11858	144	130	fe	fe	NOUN
dem-11858	144	131	b	b	PROPN
dem-11858	144	132	20	20	NUM
dem-11858	144	133	16	16	NUM
dem-11858	144	134	ju	ju	NOUN
dem-11858	144	135	n	n	ADV
dem-11858	144	136	20	20	NUM
dem-11858	144	137	1	1	NUM
dem-11858	144	138	6o	6o	NUM
dem-11858	144	139	ct	ct	PROPN
dem-11858	144	140	austria	austria	PROPN
dem-11858	144	141	belgium	belgium	PROPN
dem-11858	144	142	bulgaria	bulgaria	PROPN
dem-11858	144	143	croatia	croatia	PROPN
dem-11858	144	144	cyprus	cyprus	PROPN
dem-11858	144	145	czech	czech	PROPN
dem-11858	144	146	republic	republic	PROPN
dem-11858	144	147	denmark	denmark	PROPN
dem-11858	144	148	finland	finland	PROPN
dem-11858	144	149	france	france	PROPN
dem-11858	144	150	germany	germany	PROPN
dem-11858	144	151	greece	greece	PROPN
dem-11858	144	152	hungary	hungary	PROPN
dem-11858	144	153	ireland	ireland	PROPN
dem-11858	144	154	italy	italy	PROPN
dem-11858	144	155	-5	-5	PUNCT
dem-11858	144	156	0	0	NUM
dem-11858	144	157	5	5	NUM
dem-11858	144	158	10	10	NUM
dem-11858	144	159	15	15	NUM
dem-11858	144	160	20	20	NUM
dem-11858	144	161	25	25	NUM
dem-11858	144	162	30	30	NUM
dem-11858	144	163	20	20	NUM
dem-11858	144	164	06	06	NUM
dem-11858	144	165	fe	fe	X
dem-11858	144	166	b	b	PROPN
dem-11858	144	167	20	20	NUM
dem-11858	144	168	06	06	NUM
dem-11858	144	169	ju	ju	NOUN
dem-11858	144	170	n	n	ADV
dem-11858	144	171	20	20	NUM
dem-11858	144	172	06	06	NUM
dem-11858	144	173	o	o	NOUN
dem-11858	144	174	ct	ct	NUM
dem-11858	144	175	20	20	NUM
dem-11858	144	176	07	07	NUM
dem-11858	144	177	fe	fe	PROPN
dem-11858	144	178	b	b	PROPN
dem-11858	144	179	20	20	NUM
dem-11858	144	180	07	07	NUM
dem-11858	144	181	ju	ju	PROPN
dem-11858	144	182	n	n	ADV
dem-11858	144	183	20	20	NUM
dem-11858	144	184	07	07	NUM
dem-11858	144	185	o	o	NOUN
dem-11858	144	186	ct	ct	NUM
dem-11858	144	187	20	20	NUM
dem-11858	144	188	08	08	NUM
dem-11858	144	189	fe	fe	PROPN
dem-11858	144	190	b	b	PROPN
dem-11858	144	191	20	20	NUM
dem-11858	144	192	08	08	NUM
dem-11858	144	193	ju	ju	NOUN
dem-11858	144	194	n	n	ADV
dem-11858	144	195	20	20	NUM
dem-11858	144	196	08	08	NUM
dem-11858	144	197	o	o	NOUN
dem-11858	144	198	ct	ct	NUM
dem-11858	144	199	20	20	NUM
dem-11858	144	200	09	09	NUM
dem-11858	144	201	fe	fe	NOUN
dem-11858	144	202	b	b	PROPN
dem-11858	144	203	20	20	NUM
dem-11858	144	204	09	09	NUM
dem-11858	144	205	ju	ju	NOUN
dem-11858	144	206	n	n	ADV
dem-11858	144	207	20	20	NUM
dem-11858	144	208	09	09	NUM
dem-11858	144	209	o	o	NOUN
dem-11858	144	210	ct	ct	NUM
dem-11858	144	211	20	20	NUM
dem-11858	144	212	10	10	NUM
dem-11858	144	213	fe	fe	NOUN
dem-11858	144	214	b	b	PROPN
dem-11858	144	215	20	20	NUM
dem-11858	144	216	10	10	NUM
dem-11858	144	217	ju	ju	NOUN
dem-11858	144	218	n	n	ADV
dem-11858	144	219	20	20	NUM
dem-11858	144	220	10	10	NUM
dem-11858	144	221	o	o	NOUN
dem-11858	144	222	ct	ct	NUM
dem-11858	144	223	20	20	NUM
dem-11858	144	224	11	11	NUM
dem-11858	144	225	fe	fe	X
dem-11858	144	226	b	b	PROPN
dem-11858	144	227	20	20	NUM
dem-11858	144	228	11	11	NUM
dem-11858	144	229	ju	ju	NOUN
dem-11858	144	230	n	n	ADV
dem-11858	144	231	20	20	NUM
dem-11858	144	232	11	11	NUM
dem-11858	144	233	o	o	NOUN
dem-11858	144	234	ct	ct	NUM
dem-11858	144	235	20	20	NUM
dem-11858	144	236	12	12	NUM
dem-11858	144	237	fe	fe	NOUN
dem-11858	144	238	b	b	PROPN
dem-11858	144	239	20	20	NUM
dem-11858	144	240	12	12	NUM
dem-11858	144	241	ju	ju	NOUN
dem-11858	144	242	n	n	ADV
dem-11858	144	243	20	20	NUM
dem-11858	144	244	12	12	NUM
dem-11858	144	245	o	o	NOUN
dem-11858	144	246	ct	ct	NUM
dem-11858	144	247	20	20	NUM
dem-11858	144	248	13	13	NUM
dem-11858	144	249	fe	fe	X
dem-11858	144	250	b	b	PROPN
dem-11858	144	251	20	20	NUM
dem-11858	144	252	13	13	NUM
dem-11858	144	253	ju	ju	NOUN
dem-11858	144	254	n	n	ADV
dem-11858	144	255	20	20	NUM
dem-11858	144	256	13	13	NUM
dem-11858	144	257	o	o	NOUN
dem-11858	144	258	ct	ct	NUM
dem-11858	144	259	20	20	NUM
dem-11858	144	260	14	14	NUM
dem-11858	144	261	fe	fe	NOUN
dem-11858	144	262	b	b	PROPN
dem-11858	144	263	20	20	NUM
dem-11858	144	264	14	14	NUM
dem-11858	144	265	ju	ju	NOUN
dem-11858	144	266	n	n	ADV
dem-11858	144	267	20	20	NUM
dem-11858	144	268	14	14	NUM
dem-11858	144	269	o	o	NOUN
dem-11858	144	270	ct	ct	NUM
dem-11858	144	271	20	20	NUM
dem-11858	144	272	15	15	NUM
dem-11858	144	273	fe	fe	X
dem-11858	144	274	b	b	PROPN
dem-11858	144	275	20	20	NUM
dem-11858	144	276	15	15	NUM
dem-11858	144	277	ju	ju	NOUN
dem-11858	144	278	n	n	ADV
dem-11858	144	279	20	20	NUM
dem-11858	144	280	15	15	NUM
dem-11858	144	281	o	o	NOUN
dem-11858	144	282	ct	ct	NUM
dem-11858	144	283	20	20	NUM
dem-11858	144	284	16	16	NUM
dem-11858	144	285	fe	fe	NOUN
dem-11858	144	286	b	b	PROPN
dem-11858	144	287	20	20	NUM
dem-11858	144	288	16	16	NUM
dem-11858	144	289	ju	ju	NOUN
dem-11858	144	290	n	n	ADV
dem-11858	144	291	20	20	NUM
dem-11858	144	292	16	16	NUM
dem-11858	144	293	o	o	NOUN
dem-11858	144	294	ct	ct	PROPN
dem-11858	144	295	latvia	latvia	PROPN
dem-11858	144	296	lithuania	lithuania	PROPN
dem-11858	144	297	luxembourg	luxembourg	PROPN
dem-11858	144	298	malta	malta	PROPN
dem-11858	144	299	netherlands	netherlands	PROPN
dem-11858	144	300	poland	poland	PROPN
dem-11858	144	301	portugal	portugal	PROPN
dem-11858	144	302	romania	romania	PROPN
dem-11858	144	303	slovakia	slovakia	PROPN
dem-11858	144	304	slovenia	slovenia	PROPN
dem-11858	144	305	spain	spain	PROPN
dem-11858	144	306	sweden	sweden	PROPN
dem-11858	144	307	united	united	PROPN
dem-11858	144	308	kingdom	kingdom	PROPN
dem-11858	144	309	the	the	DET
dem-11858	144	310	share	share	NOUN
dem-11858	144	311	of	of	ADP
dem-11858	144	312	european	european	ADJ
dem-11858	144	313	economies	economy	NOUN
dem-11858	144	314	in	in	ADP
dem-11858	144	315	the	the	DET
dem-11858	144	316	process	process	NOUN
dem-11858	144	317	of	of	ADP
dem-11858	144	318	convergence	convergence	NOUN
dem-11858	144	319	…	…	SYM
dem-11858	144	320	dynamic	dynamic	ADJ
dem-11858	144	321	econometric	econometric	ADJ
dem-11858	144	322	models	model	NOUN
dem-11858	144	323	16	16	NUM
dem-11858	144	324	(	(	PUNCT
dem-11858	144	325	2016	2016	NUM
dem-11858	144	326	)	)	PUNCT
dem-11858	144	327	165–187	165–187	NUM
dem-11858	144	328	177	177	NUM
dem-11858	144	329	4	4	NUM
dem-11858	144	330	.	.	PUNCT
dem-11858	144	331	results	result	NOUN
dem-11858	144	332	of	of	ADP
dem-11858	144	333	the	the	DET
dem-11858	144	334	econometric	econometric	ADJ
dem-11858	144	335	analysis	analysis	NOUN
dem-11858	144	336	the	the	DET
dem-11858	144	337	models	model	NOUN
dem-11858	144	338	given	give	VERB
dem-11858	144	339	by	by	ADP
dem-11858	144	340	the	the	DET
dem-11858	144	341	formulas	formula	NOUN
dem-11858	144	342	(	(	PUNCT
dem-11858	144	343	1	1	NUM
dem-11858	144	344	)	)	PUNCT
dem-11858	144	345	and	and	CCONJ
dem-11858	144	346	(	(	PUNCT
dem-11858	144	347	2	2	X
dem-11858	144	348	)	)	PUNCT
dem-11858	144	349	have	have	AUX
dem-11858	144	350	been	be	AUX
dem-11858	144	351	estimated	estimate	VERB
dem-11858	144	352	and	and	CCONJ
dem-11858	144	353	verified	verify	VERB
dem-11858	144	354	for	for	ADP
dem-11858	144	355	two	two	NUM
dem-11858	144	356	separate	separate	ADJ
dem-11858	144	357	periods	period	NOUN
dem-11858	144	358	:	:	PUNCT
dem-11858	144	359	the	the	DET
dem-11858	144	360	period	period	NOUN
dem-11858	144	361	covering	cover	VERB
dem-11858	144	362	the	the	DET
dem-11858	144	363	outbreak	outbreak	NOUN
dem-11858	144	364	of	of	ADP
dem-11858	144	365	the	the	DET
dem-11858	144	366	global	global	ADJ
dem-11858	144	367	financial	financial	ADJ
dem-11858	144	368	crisis	crisis	NOUN
dem-11858	144	369	,	,	PUNCT
dem-11858	144	370	i.e.	i.e.	X
dem-11858	144	371	01.200612.2010	01.200612.2010	NOUN
dem-11858	144	372	and	and	CCONJ
dem-11858	144	373	the	the	DET
dem-11858	144	374	"	"	PUNCT
dem-11858	144	375	post	post	ADJ
dem-11858	144	376	-	-	ADJ
dem-11858	144	377	crisis	crisis	NOUN
dem-11858	144	378	"	"	PUNCT
dem-11858	144	379	period	period	NOUN
dem-11858	144	380	between	between	ADP
dem-11858	144	381	01.201111.2016	01.201111.2016	PROPN
dem-11858	144	382	.	.	PUNCT
dem-11858	145	1	the	the	DET
dem-11858	145	2	results	result	NOUN
dem-11858	145	3	obtained	obtain	VERB
dem-11858	145	4	for	for	ADP
dem-11858	145	5	the	the	DET
dem-11858	145	6	first	first	ADJ
dem-11858	145	7	period	period	NOUN
dem-11858	145	8	are	be	AUX
dem-11858	145	9	shown	show	VERB
dem-11858	145	10	in	in	ADP
dem-11858	145	11	table	table	NOUN
dem-11858	145	12	1	1	NUM
dem-11858	145	13	,	,	PUNCT
dem-11858	145	14	while	while	SCONJ
dem-11858	145	15	table	table	NOUN
dem-11858	145	16	2	2	NUM
dem-11858	145	17	contains	contain	VERB
dem-11858	145	18	results	result	NOUN
dem-11858	145	19	for	for	ADP
dem-11858	145	20	the	the	DET
dem-11858	145	21	second	second	ADJ
dem-11858	145	22	period	period	NOUN
dem-11858	145	23	.	.	PUNCT
dem-11858	146	1	the	the	DET
dem-11858	146	2	value	value	NOUN
dem-11858	146	3	of	of	ADP
dem-11858	146	4	β	β	X
dem-11858	146	5	parameter	parameter	NOUN
dem-11858	146	6	for	for	ADP
dem-11858	146	7	the	the	DET
dem-11858	146	8	panel	panel	NOUN
dem-11858	146	9	data	datum	NOUN
dem-11858	146	10	model	model	NOUN
dem-11858	146	11	with	with	ADP
dem-11858	146	12	individual	individual	ADJ
dem-11858	146	13	effects	effect	NOUN
dem-11858	146	14	,	,	PUNCT
dem-11858	146	15	which	which	PRON
dem-11858	146	16	was	be	AUX
dem-11858	146	17	estimated	estimate	VERB
dem-11858	146	18	for	for	ADP
dem-11858	146	19	the	the	DET
dem-11858	146	20	first	first	ADJ
dem-11858	146	21	period	period	NOUN
dem-11858	146	22	,	,	PUNCT
dem-11858	146	23	points	point	VERB
dem-11858	146	24	that	that	SCONJ
dem-11858	146	25	the	the	DET
dem-11858	146	26	levels	level	NOUN
dem-11858	146	27	of	of	ADP
dem-11858	146	28	spreads	spread	NOUN
dem-11858	146	29	of	of	ADP
dem-11858	146	30	ten	ten	NUM
dem-11858	146	31	-	-	PUNCT
dem-11858	146	32	year	year	NOUN
dem-11858	146	33	treasury	treasury	NOUN
dem-11858	146	34	bonds	bond	NOUN
dem-11858	146	35	issued	issue	VERB
dem-11858	146	36	by	by	ADP
dem-11858	146	37	the	the	DET
dem-11858	146	38	european	european	ADJ
dem-11858	146	39	economies	economy	NOUN
dem-11858	146	40	equalise	equalise	VERB
dem-11858	146	41	through	through	ADP
dem-11858	146	42	time	time	NOUN
dem-11858	146	43	.	.	PUNCT
dem-11858	147	1	since	since	SCONJ
dem-11858	147	2	this	this	DET
dem-11858	147	3	parameter	parameter	NOUN
dem-11858	147	4	is	be	AUX
dem-11858	147	5	statistically	statistically	ADV
dem-11858	147	6	significant	significant	ADJ
dem-11858	147	7	,	,	PUNCT
dem-11858	147	8	it	it	PRON
dem-11858	147	9	can	can	AUX
dem-11858	147	10	be	be	AUX
dem-11858	147	11	concluded	conclude	VERB
dem-11858	147	12	that	that	SCONJ
dem-11858	147	13	the	the	DET
dem-11858	147	14	member	member	NOUN
dem-11858	147	15	states	state	NOUN
dem-11858	147	16	of	of	ADP
dem-11858	147	17	the	the	DET
dem-11858	147	18	european	european	PROPN
dem-11858	147	19	union	union	PROPN
dem-11858	147	20	have	have	AUX
dem-11858	147	21	implemented	implement	VERB
dem-11858	147	22	one	one	NUM
dem-11858	147	23	of	of	ADP
dem-11858	147	24	the	the	DET
dem-11858	147	25	most	most	ADV
dem-11858	147	26	important	important	ADJ
dem-11858	147	27	principles	principle	NOUN
dem-11858	147	28	contained	contain	VERB
dem-11858	147	29	in	in	ADP
dem-11858	147	30	the	the	DET
dem-11858	147	31	treaty	treaty	NOUN
dem-11858	147	32	of	of	ADP
dem-11858	147	33	maastricht	maastricht	PROPN
dem-11858	147	34	that	that	PRON
dem-11858	147	35	concern	concern	VERB
dem-11858	147	36	the	the	DET
dem-11858	147	37	convergence	convergence	NOUN
dem-11858	147	38	of	of	ADP
dem-11858	147	39	economies	economy	NOUN
dem-11858	147	40	.	.	PUNCT
dem-11858	148	1	table	table	NOUN
dem-11858	148	2	1	1	NUM
dem-11858	148	3	.	.	PUNCT
dem-11858	148	4	results	result	NOUN
dem-11858	148	5	of	of	ADP
dem-11858	148	6	the	the	DET
dem-11858	148	7	estimation	estimation	NOUN
dem-11858	148	8	and	and	CCONJ
dem-11858	148	9	verification	verification	NOUN
dem-11858	148	10	of	of	ADP
dem-11858	148	11	fe_ind	fe_ind	PROPN
dem-11858	148	12	and	and	CCONJ
dem-11858	148	13	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	148	14	models	model	NOUN
dem-11858	148	15	for	for	ADP
dem-11858	148	16	all	all	DET
dem-11858	148	17	analysed	analyse	VERB
dem-11858	148	18	issuers	issuer	NOUN
dem-11858	148	19	in	in	ADP
dem-11858	148	20	the	the	DET
dem-11858	148	21	period	period	NOUN
dem-11858	148	22	between	between	ADP
dem-11858	148	23	01.2006–12.2010	01.2006–12.2010	PROPN
dem-11858	148	24	parameters	parameter	NOUN
dem-11858	148	25	models	model	VERB
dem-11858	148	26	fe_ind	fe_ind	PROPN
dem-11858	148	27	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	148	28			PROPN
dem-11858	148	29			NOUN
dem-11858	148	30	–	–	PUNCT
dem-11858	148	31	0.0876	0.0876	NUM
dem-11858	148	32	(	(	PUNCT
dem-11858	148	33	0.0068	0.0068	NUM
dem-11858	148	34	)	)	PUNCT
dem-11858	148	35			NOUN
dem-11858	148	36	–	–	PUNCT
dem-11858	148	37	0.0057	0.0057	NUM
dem-11858	148	38	(	(	PUNCT
dem-11858	148	39	0.8126	0.8126	NUM
dem-11858	148	40	)	)	PUNCT
dem-11858	148	41	0.0697	0.0697	NUM
dem-11858	148	42	(	(	PUNCT
dem-11858	148	43	0.0630	0.0630	NUM
dem-11858	148	44	)	)	PUNCT
dem-11858	148	45	autocorrelation	autocorrelation	NOUN
dem-11858	148	46	of	of	ADP
dem-11858	148	47	residuals	residual	NOUN
dem-11858	148	48	moran	moran	PROPN
dem-11858	148	49	test	test	PROPN
dem-11858	148	50	–	–	PUNCT
dem-11858	148	51	0.0236	0.0236	NUM
dem-11858	148	52	(	(	PUNCT
dem-11858	148	53	0.9386	0.9386	NUM
dem-11858	148	54	)	)	PUNCT
dem-11858	148	55	–	–	PUNCT
dem-11858	148	56	0.0077	0.0077	NUM
dem-11858	148	57	(	(	PUNCT
dem-11858	148	58	0.6807	0.6807	NUM
dem-11858	148	59	)	)	PUNCT
dem-11858	148	60	speed	speed	NOUN
dem-11858	148	61	of	of	ADP
dem-11858	148	62	convergence	convergence	NOUN
dem-11858	148	63	0.0019	0.0019	NUM
dem-11858	148	64	0.0001	0.0001	NUM
dem-11858	148	65	note	note	NOUN
dem-11858	148	66	:	:	PUNCT
dem-11858	148	67	numbers	number	NOUN
dem-11858	148	68	in	in	ADP
dem-11858	148	69	brackets	bracket	NOUN
dem-11858	148	70	refer	refer	VERB
dem-11858	148	71	to	to	ADP
dem-11858	148	72	the	the	DET
dem-11858	148	73	p	p	NOUN
dem-11858	148	74	-	-	PUNCT
dem-11858	148	75	values	value	NOUN
dem-11858	148	76	.	.	PUNCT
dem-11858	149	1	all	all	DET
dem-11858	149	2	calculations	calculation	NOUN
dem-11858	149	3	were	be	AUX
dem-11858	149	4	performed	perform	VERB
dem-11858	149	5	with	with	ADP
dem-11858	149	6	r	r	NOUN
dem-11858	149	7	–	–	PUNCT
dem-11858	149	8	version	version	NOUN
dem-11858	149	9	3.2.5	3.2.5	NUM
dem-11858	149	10	.	.	PUNCT
dem-11858	150	1	the	the	DET
dem-11858	150	2	inclusion	inclusion	NOUN
dem-11858	150	3	of	of	ADP
dem-11858	150	4	the	the	DET
dem-11858	150	5	connectivity	connectivity	NOUN
dem-11858	150	6	matrix	matrix	NOUN
dem-11858	150	7	,	,	PUNCT
dem-11858	150	8	which	which	PRON
dem-11858	150	9	was	be	AUX
dem-11858	150	10	defined	define	VERB
dem-11858	150	11	based	base	VERB
dem-11858	150	12	on	on	ADP
dem-11858	150	13	differences	difference	NOUN
dem-11858	150	14	between	between	ADP
dem-11858	150	15	countries	country	NOUN
dem-11858	150	16	in	in	ADP
dem-11858	150	17	terms	term	NOUN
dem-11858	150	18	of	of	ADP
dem-11858	150	19	the	the	DET
dem-11858	150	20	ratio	ratio	NOUN
dem-11858	150	21	gdp	gdp	NOUN
dem-11858	150	22	debt	debt	NOUN
dem-11858	150	23	,	,	PUNCT
dem-11858	150	24	causes	cause	VERB
dem-11858	150	25	a	a	DET
dem-11858	150	26	reduction	reduction	NOUN
dem-11858	150	27	in	in	ADP
dem-11858	150	28	value	value	NOUN
dem-11858	150	29	of	of	ADP
dem-11858	150	30			NOUN
dem-11858	150	31	parameter	parameter	NOUN
dem-11858	150	32	and	and	CCONJ
dem-11858	150	33	at	at	ADP
dem-11858	150	34	the	the	DET
dem-11858	150	35	same	same	ADJ
dem-11858	150	36	time	time	NOUN
dem-11858	150	37	causes	cause	VERB
dem-11858	150	38	it	it	PRON
dem-11858	150	39	to	to	PART
dem-11858	150	40	lose	lose	VERB
dem-11858	150	41	its	its	PRON
dem-11858	150	42	statistical	statistical	ADJ
dem-11858	150	43	significance	significance	NOUN
dem-11858	150	44	.	.	PUNCT
dem-11858	151	1	therefore	therefore	ADV
dem-11858	151	2	,	,	PUNCT
dem-11858	151	3	the	the	DET
dem-11858	151	4	study	study	NOUN
dem-11858	151	5	,	,	PUNCT
dem-11858	151	6	which	which	PRON
dem-11858	151	7	takes	take	VERB
dem-11858	151	8	into	into	ADP
dem-11858	151	9	account	account	NOUN
dem-11858	151	10	the	the	DET
dem-11858	151	11	spatial	spatial	ADJ
dem-11858	151	12	relations	relation	NOUN
dem-11858	151	13	between	between	ADP
dem-11858	151	14	economies	economy	NOUN
dem-11858	151	15	which	which	PRON
dem-11858	151	16	are	be	AUX
dem-11858	151	17	quantified	quantify	VERB
dem-11858	151	18	on	on	ADP
dem-11858	151	19	the	the	DET
dem-11858	151	20	basis	basis	NOUN
dem-11858	151	21	of	of	ADP
dem-11858	151	22	the	the	DET
dem-11858	151	23	debt	debt	NOUN
dem-11858	151	24	ratio	ratio	NOUN
dem-11858	151	25	would	would	AUX
dem-11858	151	26	lead	lead	VERB
dem-11858	151	27	to	to	ADP
dem-11858	151	28	the	the	DET
dem-11858	151	29	conclusion	conclusion	NOUN
dem-11858	151	30	of	of	ADP
dem-11858	151	31	an	an	DET
dem-11858	151	32	absence	absence	NOUN
dem-11858	151	33	of	of	ADP
dem-11858	151	34	a	a	DET
dem-11858	151	35	process	process	NOUN
dem-11858	151	36	of	of	ADP
dem-11858	151	37	convergence	convergence	NOUN
dem-11858	151	38	of	of	ADP
dem-11858	151	39	interest	interest	NOUN
dem-11858	151	40	rates	rate	NOUN
dem-11858	151	41	of	of	ADP
dem-11858	151	42	government	government	NOUN
dem-11858	151	43	bonds	bond	NOUN
dem-11858	151	44	in	in	ADP
dem-11858	151	45	period	period	NOUN
dem-11858	151	46	i.	i.	PROPN
dem-11858	151	47	interestingly	interestingly	ADV
dem-11858	151	48	,	,	PUNCT
dem-11858	151	49	however	however	ADV
dem-11858	151	50	,	,	PUNCT
dem-11858	151	51	parameter	parameter	PROPN
dem-11858	151	52	ρ	ρ	PROPN
dem-11858	151	53	in	in	ADP
dem-11858	151	54	the	the	DET
dem-11858	151	55	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	151	56	model	model	NOUN
dem-11858	151	57	proved	prove	VERB
dem-11858	151	58	to	to	PART
dem-11858	151	59	be	be	AUX
dem-11858	151	60	statistically	statistically	ADV
dem-11858	151	61	insignificant	insignificant	ADJ
dem-11858	151	62	.	.	PUNCT
dem-11858	152	1	this	this	PRON
dem-11858	152	2	demonstrates	demonstrate	VERB
dem-11858	152	3	a	a	DET
dem-11858	152	4	lack	lack	NOUN
dem-11858	152	5	of	of	ADP
dem-11858	152	6	dependence	dependence	NOUN
dem-11858	152	7	between	between	ADP
dem-11858	152	8	the	the	DET
dem-11858	152	9	pace	pace	NOUN
dem-11858	152	10	of	of	ADP
dem-11858	152	11	changes	change	NOUN
dem-11858	152	12	in	in	ADP
dem-11858	152	13	the	the	DET
dem-11858	152	14	interest	interest	NOUN
dem-11858	152	15	rates	rate	NOUN
dem-11858	152	16	of	of	ADP
dem-11858	152	17	government	government	NOUN
dem-11858	152	18	bonds	bond	NOUN
dem-11858	152	19	in	in	ADP
dem-11858	152	20	one	one	NUM
dem-11858	152	21	country	country	NOUN
dem-11858	152	22	and	and	CCONJ
dem-11858	152	23	their	their	PRON
dem-11858	152	24	paces	pace	NOUN
dem-11858	152	25	in	in	ADP
dem-11858	152	26	countries	country	NOUN
dem-11858	152	27	with	with	ADP
dem-11858	152	28	a	a	DET
dem-11858	152	29	similar	similar	ADJ
dem-11858	152	30	financial	financial	ADJ
dem-11858	152	31	stability	stability	NOUN
dem-11858	152	32	,	,	PUNCT
dem-11858	152	33	i.e.	i.e.	X
dem-11858	152	34	in	in	ADP
dem-11858	152	35	countries	country	NOUN
dem-11858	152	36	with	with	ADP
dem-11858	152	37	a	a	DET
dem-11858	152	38	similar	similar	ADJ
dem-11858	152	39	share	share	NOUN
dem-11858	152	40	of	of	ADP
dem-11858	152	41	debt	debt	NOUN
dem-11858	152	42	in	in	ADP
dem-11858	152	43	gross	gross	ADJ
dem-11858	152	44	domestic	domestic	ADJ
dem-11858	152	45	product	product	NOUN
dem-11858	152	46	.	.	PUNCT
dem-11858	153	1	if	if	SCONJ
dem-11858	153	2	so	so	ADV
dem-11858	153	3	,	,	PUNCT
dem-11858	153	4	the	the	DET
dem-11858	153	5	preferred	preferred	ADJ
dem-11858	153	6	model	model	NOUN
dem-11858	153	7	in	in	ADP
dem-11858	153	8	this	this	DET
dem-11858	153	9	analysis	analysis	NOUN
dem-11858	153	10	,	,	PUNCT
dem-11858	153	11	should	should	AUX
dem-11858	153	12	be	be	AUX
dem-11858	153	13	the	the	DET
dem-11858	153	14	fe_ind	fe_ind	PROPN
dem-11858	153	15	model	model	NOUN
dem-11858	153	16	without	without	ADP
dem-11858	153	17	spatial	spatial	ADJ
dem-11858	153	18	effects	effect	NOUN
dem-11858	153	19	.	.	PUNCT
dem-11858	154	1	elżbieta	elżbieta	PROPN
dem-11858	154	2	szulc	szulc	PROPN
dem-11858	154	3	,	,	PUNCT
dem-11858	154	4	dagna	dagna	VERB
dem-11858	154	5	wleklińska	wleklińska	NOUN
dem-11858	154	6	,	,	PUNCT
dem-11858	154	7	karolina	karolina	PROPN
dem-11858	154	8	górna	górna	PROPN
dem-11858	154	9	dynamic	dynamic	ADJ
dem-11858	154	10	econometric	econometric	ADJ
dem-11858	154	11	models	model	NOUN
dem-11858	154	12	16	16	NUM
dem-11858	154	13	(	(	PUNCT
dem-11858	154	14	2016	2016	NUM
dem-11858	154	15	)	)	PUNCT
dem-11858	154	16	165–187	165–187	NUM
dem-11858	154	17	178	178	NUM
dem-11858	154	18	during	during	ADP
dem-11858	154	19	the	the	DET
dem-11858	154	20	period	period	NOUN
dem-11858	154	21	between	between	ADP
dem-11858	154	22	01.2011–11.2016	01.2011–11.2016	NUM
dem-11858	154	23	the	the	DET
dem-11858	154	24	β	β	PROPN
dem-11858	154	25	parameter	parameter	NOUN
dem-11858	154	26	in	in	ADP
dem-11858	154	27	the	the	DET
dem-11858	154	28	fe_ind	fe_ind	PROPN
dem-11858	154	29	model	model	NOUN
dem-11858	154	30	remains	remain	VERB
dem-11858	154	31	negative	negative	ADJ
dem-11858	154	32	,	,	PUNCT
dem-11858	154	33	however	however	ADV
dem-11858	154	34	,	,	PUNCT
dem-11858	154	35	it	it	PRON
dem-11858	154	36	is	be	AUX
dem-11858	154	37	statistically	statistically	ADV
dem-11858	154	38	insignificant	insignificant	ADJ
dem-11858	154	39	,	,	PUNCT
dem-11858	154	40	thus	thus	ADV
dem-11858	154	41	it	it	PRON
dem-11858	154	42	should	should	AUX
dem-11858	154	43	be	be	AUX
dem-11858	154	44	concluded	conclude	VERB
dem-11858	154	45	that	that	SCONJ
dem-11858	154	46	the	the	DET
dem-11858	154	47	european	european	PROPN
dem-11858	154	48	union	union	PROPN
dem-11858	154	49	faces	face	VERB
dem-11858	154	50	a	a	DET
dem-11858	154	51	process	process	NOUN
dem-11858	154	52	of	of	ADP
dem-11858	154	53	decompression	decompression	NOUN
dem-11858	154	54	of	of	ADP
dem-11858	154	55	long	long	ADJ
dem-11858	154	56	-	-	PUNCT
dem-11858	154	57	term	term	NOUN
dem-11858	154	58	interest	interest	NOUN
dem-11858	154	59	rates	rate	NOUN
dem-11858	154	60	.	.	PUNCT
dem-11858	155	1	changes	change	NOUN
dem-11858	155	2	in	in	ADP
dem-11858	155	3	the	the	DET
dem-11858	155	4	profitability	profitability	NOUN
dem-11858	155	5	of	of	ADP
dem-11858	155	6	government	government	NOUN
dem-11858	155	7	bond	bond	NOUN
dem-11858	155	8	yields	yield	NOUN
dem-11858	155	9	during	during	ADP
dem-11858	155	10	this	this	DET
dem-11858	155	11	period	period	NOUN
dem-11858	155	12	were	be	AUX
dem-11858	155	13	caused	cause	VERB
dem-11858	155	14	by	by	ADP
dem-11858	155	15	a	a	DET
dem-11858	155	16	differentiated	differentiated	ADJ
dem-11858	155	17	risk	risk	NOUN
dem-11858	155	18	of	of	ADP
dem-11858	155	19	insolvency	insolvency	NOUN
dem-11858	155	20	of	of	ADP
dem-11858	155	21	issuers	issuer	NOUN
dem-11858	155	22	,	,	PUNCT
dem-11858	155	23	which	which	PRON
dem-11858	155	24	was	be	AUX
dem-11858	155	25	basically	basically	ADV
dem-11858	155	26	caused	cause	VERB
dem-11858	155	27	by	by	ADP
dem-11858	155	28	ineffective	ineffective	ADJ
dem-11858	155	29	,	,	PUNCT
dem-11858	155	30	with	with	ADP
dem-11858	155	31	regard	regard	NOUN
dem-11858	155	32	to	to	ADP
dem-11858	155	33	stability	stability	NOUN
dem-11858	155	34	and	and	CCONJ
dem-11858	155	35	growth	growth	NOUN
dem-11858	155	36	,	,	PUNCT
dem-11858	155	37	national	national	ADJ
dem-11858	155	38	fiscal	fiscal	ADJ
dem-11858	155	39	and	and	CCONJ
dem-11858	155	40	structural	structural	ADJ
dem-11858	155	41	policies	policy	NOUN
dem-11858	155	42	in	in	ADP
dem-11858	155	43	many	many	ADJ
dem-11858	155	44	countries	country	NOUN
dem-11858	155	45	and	and	CCONJ
dem-11858	155	46	also	also	ADV
dem-11858	155	47	,	,	PUNCT
dem-11858	155	48	in	in	ADP
dem-11858	155	49	some	some	DET
dem-11858	155	50	way	way	NOUN
dem-11858	155	51	,	,	PUNCT
dem-11858	155	52	by	by	ADP
dem-11858	155	53	investors	investor	NOUN
dem-11858	155	54	’	'	PUNCT
dem-11858	155	55	speculations	speculation	NOUN
dem-11858	155	56	.	.	PUNCT
dem-11858	156	1	the	the	DET
dem-11858	156	2	said	say	VERB
dem-11858	156	3	period	period	NOUN
dem-11858	156	4	reveals	reveal	VERB
dem-11858	156	5	heterogeneity	heterogeneity	NOUN
dem-11858	156	6	of	of	ADP
dem-11858	156	7	the	the	DET
dem-11858	156	8	european	european	PROPN
dem-11858	156	9	union	union	PROPN
dem-11858	156	10	,	,	PUNCT
dem-11858	156	11	which	which	PRON
dem-11858	156	12	departs	depart	VERB
dem-11858	156	13	from	from	ADP
dem-11858	156	14	the	the	DET
dem-11858	156	15	criteria	criterion	NOUN
dem-11858	156	16	of	of	ADP
dem-11858	156	17	an	an	DET
dem-11858	156	18	optimal	optimal	ADJ
dem-11858	156	19	currency	currency	NOUN
dem-11858	156	20	area	area	NOUN
dem-11858	156	21	.	.	PUNCT
dem-11858	157	1	in	in	ADP
dem-11858	157	2	the	the	DET
dem-11858	157	3	conditions	condition	NOUN
dem-11858	157	4	of	of	ADP
dem-11858	157	5	an	an	DET
dem-11858	157	6	escalating	escalate	VERB
dem-11858	157	7	debt	debt	NOUN
dem-11858	157	8	crisis	crisis	NOUN
dem-11858	157	9	in	in	ADP
dem-11858	157	10	europe	europe	PROPN
dem-11858	157	11	,	,	PUNCT
dem-11858	157	12	the	the	DET
dem-11858	157	13	common	common	ADJ
dem-11858	157	14	monetary	monetary	ADJ
dem-11858	157	15	policy	policy	NOUN
dem-11858	157	16	for	for	ADP
dem-11858	157	17	entire	entire	ADJ
dem-11858	157	18	territory	territory	NOUN
dem-11858	157	19	has	have	AUX
dem-11858	157	20	not	not	PART
dem-11858	157	21	been	be	AUX
dem-11858	157	22	able	able	ADJ
dem-11858	157	23	to	to	PART
dem-11858	157	24	equally	equally	ADV
dem-11858	157	25	impact	impact	VERB
dem-11858	157	26	on	on	ADP
dem-11858	157	27	the	the	DET
dem-11858	157	28	economic	economic	ADJ
dem-11858	157	29	situation	situation	NOUN
dem-11858	157	30	of	of	ADP
dem-11858	157	31	all	all	DET
dem-11858	157	32	individual	individual	ADJ
dem-11858	157	33	countries	country	NOUN
dem-11858	157	34	.	.	PUNCT
dem-11858	158	1	the	the	DET
dem-11858	158	2	introduction	introduction	NOUN
dem-11858	158	3	of	of	ADP
dem-11858	158	4	spatial	spatial	ADJ
dem-11858	158	5	dependencies	dependency	NOUN
dem-11858	158	6	to	to	ADP
dem-11858	158	7	the	the	DET
dem-11858	158	8	model	model	NOUN
dem-11858	158	9	applied	apply	VERB
dem-11858	158	10	for	for	ADP
dem-11858	158	11	the	the	DET
dem-11858	158	12	second	second	ADJ
dem-11858	158	13	period	period	NOUN
dem-11858	158	14	turns	turn	VERB
dem-11858	158	15	out	out	ADP
dem-11858	158	16	to	to	PART
dem-11858	158	17	be	be	AUX
dem-11858	158	18	an	an	DET
dem-11858	158	19	appropriate	appropriate	ADJ
dem-11858	158	20	approach	approach	NOUN
dem-11858	158	21	as	as	ADP
dem-11858	158	22	the	the	DET
dem-11858	158	23	parameter	parameter	NOUN
dem-11858	158	24	ρ	ρ	PROPN
dem-11858	158	25	in	in	ADP
dem-11858	158	26	this	this	DET
dem-11858	158	27	case	case	NOUN
dem-11858	158	28	is	be	AUX
dem-11858	158	29	statistically	statistically	ADV
dem-11858	158	30	significant	significant	ADJ
dem-11858	158	31	.	.	PUNCT
dem-11858	159	1	it	it	PRON
dem-11858	159	2	can	can	AUX
dem-11858	159	3	be	be	AUX
dem-11858	159	4	concluded	conclude	VERB
dem-11858	159	5	that	that	SCONJ
dem-11858	159	6	during	during	ADP
dem-11858	159	7	the	the	DET
dem-11858	159	8	economic	economic	ADJ
dem-11858	159	9	downturn	downturn	NOUN
dem-11858	159	10	the	the	DET
dem-11858	159	11	differences	difference	NOUN
dem-11858	159	12	in	in	ADP
dem-11858	159	13	the	the	DET
dem-11858	159	14	debt	debt	NOUN
dem-11858	159	15	play	play	VERB
dem-11858	159	16	a	a	DET
dem-11858	159	17	greater	great	ADJ
dem-11858	159	18	role	role	NOUN
dem-11858	159	19	in	in	ADP
dem-11858	159	20	explaining	explain	VERB
dem-11858	159	21	the	the	DET
dem-11858	159	22	formation	formation	NOUN
dem-11858	159	23	of	of	ADP
dem-11858	159	24	the	the	DET
dem-11858	159	25	levels	level	NOUN
dem-11858	159	26	of	of	ADP
dem-11858	159	27	spreads	spread	NOUN
dem-11858	159	28	in	in	ADP
dem-11858	159	29	government	government	NOUN
dem-11858	159	30	bond	bond	NOUN
dem-11858	159	31	yields	yield	NOUN
dem-11858	159	32	.	.	PUNCT
dem-11858	160	1	interestingly	interestingly	ADV
dem-11858	160	2	,	,	PUNCT
dem-11858	160	3	in	in	ADP
dem-11858	160	4	the	the	DET
dem-11858	160	5	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	160	6	model	model	NOUN
dem-11858	160	7	the	the	DET
dem-11858	160	8	parameter	parameter	NOUN
dem-11858	160	9	β	β	PROPN
dem-11858	160	10	is	be	AUX
dem-11858	160	11	positive	positive	ADJ
dem-11858	160	12	.	.	PUNCT
dem-11858	161	1	it	it	PRON
dem-11858	161	2	indicates	indicate	VERB
dem-11858	161	3	a	a	DET
dem-11858	161	4	process	process	NOUN
dem-11858	161	5	opposite	opposite	ADJ
dem-11858	161	6	to	to	ADP
dem-11858	161	7	that	that	PRON
dem-11858	161	8	equalising	equalise	VERB
dem-11858	161	9	the	the	DET
dem-11858	161	10	levels	level	NOUN
dem-11858	161	11	of	of	ADP
dem-11858	161	12	spreads	spread	NOUN
dem-11858	161	13	in	in	ADP
dem-11858	161	14	the	the	DET
dem-11858	161	15	second	second	ADJ
dem-11858	161	16	period	period	NOUN
dem-11858	161	17	.	.	PUNCT
dem-11858	162	1	in	in	ADP
dem-11858	162	2	this	this	DET
dem-11858	162	3	case	case	NOUN
dem-11858	162	4	we	we	PRON
dem-11858	162	5	should	should	AUX
dem-11858	162	6	rather	rather	ADV
dem-11858	162	7	speak	speak	VERB
dem-11858	162	8	of	of	ADP
dem-11858	162	9	a	a	DET
dem-11858	162	10	divergence	divergence	NOUN
dem-11858	162	11	and	and	CCONJ
dem-11858	162	12	a	a	DET
dem-11858	162	13	deepening	deepen	VERB
dem-11858	162	14	diversification	diversification	NOUN
dem-11858	162	15	of	of	ADP
dem-11858	162	16	spreads	spread	NOUN
dem-11858	162	17	of	of	ADP
dem-11858	162	18	government	government	NOUN
dem-11858	162	19	bonds	bond	NOUN
dem-11858	162	20	in	in	ADP
dem-11858	162	21	the	the	DET
dem-11858	162	22	eu	eu	PROPN
dem-11858	162	23	countries	country	NOUN
dem-11858	162	24	.	.	PUNCT
dem-11858	163	1	table	table	NOUN
dem-11858	163	2	2	2	NUM
dem-11858	163	3	.	.	PUNCT
dem-11858	163	4	results	result	NOUN
dem-11858	163	5	of	of	ADP
dem-11858	163	6	the	the	DET
dem-11858	163	7	estimation	estimation	NOUN
dem-11858	163	8	and	and	CCONJ
dem-11858	163	9	verification	verification	NOUN
dem-11858	163	10	of	of	ADP
dem-11858	163	11	fe_ind	fe_ind	PROPN
dem-11858	163	12	and	and	CCONJ
dem-11858	163	13	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	163	14	models	model	NOUN
dem-11858	163	15	for	for	ADP
dem-11858	163	16	all	all	DET
dem-11858	163	17	analysed	analyse	VERB
dem-11858	163	18	issuers	issuer	NOUN
dem-11858	163	19	in	in	ADP
dem-11858	163	20	the	the	DET
dem-11858	163	21	period	period	NOUN
dem-11858	163	22	between	between	ADP
dem-11858	163	23	01.2011–11.2016	01.2011–11.2016	NOUN
dem-11858	163	24	parameters	parameter	NOUN
dem-11858	163	25	models	model	VERB
dem-11858	163	26	fe_ind	fe_ind	PROPN
dem-11858	163	27	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	163	28			PROPN
dem-11858	163	29			NOUN
dem-11858	163	30	–	–	PUNCT
dem-11858	163	31	0.0087	0.0087	NUM
dem-11858	163	32	(	(	PUNCT
dem-11858	163	33	0.1072	0.1072	NUM
dem-11858	163	34	)	)	PUNCT
dem-11858	163	35			PROPN
dem-11858	163	36	0.0084	0.0084	NUM
dem-11858	163	37	(	(	PUNCT
dem-11858	163	38	0.0143	0.0143	NUM
dem-11858	163	39	)	)	PUNCT
dem-11858	163	40	0.2231	0.2231	NUM
dem-11858	163	41	(	(	PUNCT
dem-11858	163	42	0.0000	0.0000	NUM
dem-11858	163	43	)	)	PUNCT
dem-11858	163	44	autocorrelation	autocorrelation	NOUN
dem-11858	163	45	of	of	ADP
dem-11858	163	46	residuals	residual	NOUN
dem-11858	163	47	moran	moran	PROPN
dem-11858	163	48	test	test	PROPN
dem-11858	163	49	–	–	PUNCT
dem-11858	163	50	0.0682	0.0682	NUM
dem-11858	163	51	(	(	PUNCT
dem-11858	163	52	1.0000	1.0000	NUM
dem-11858	163	53	)	)	PUNCT
dem-11858	163	54	–	–	PUNCT
dem-11858	163	55	0.0162	0.0162	NUM
dem-11858	163	56	(	(	PUNCT
dem-11858	163	57	0.8948	0.8948	NUM
dem-11858	163	58	)	)	PUNCT
dem-11858	163	59	speed	speed	NOUN
dem-11858	163	60	of	of	ADP
dem-11858	163	61	convergence	convergence	NOUN
dem-11858	163	62	0.0001	0.0001	NUM
dem-11858	163	63	–	–	PUNCT
dem-11858	163	64	0.0001	0.0001	NUM
dem-11858	163	65	note	note	NOUN
dem-11858	163	66	:	:	PUNCT
dem-11858	163	67	numbers	number	NOUN
dem-11858	163	68	in	in	ADP
dem-11858	163	69	brackets	bracket	NOUN
dem-11858	163	70	refer	refer	VERB
dem-11858	163	71	to	to	ADP
dem-11858	163	72	the	the	DET
dem-11858	163	73	p	p	NOUN
dem-11858	163	74	-	-	PUNCT
dem-11858	163	75	values	value	NOUN
dem-11858	163	76	.	.	PUNCT
dem-11858	164	1	all	all	DET
dem-11858	164	2	calculations	calculation	NOUN
dem-11858	164	3	were	be	AUX
dem-11858	164	4	performed	perform	VERB
dem-11858	164	5	with	with	ADP
dem-11858	164	6	r	r	NOUN
dem-11858	164	7	–	–	PUNCT
dem-11858	164	8	version	version	NOUN
dem-11858	164	9	3.2.5	3.2.5	NUM
dem-11858	164	10	.	.	PUNCT
dem-11858	165	1	the	the	DET
dem-11858	165	2	approach	approach	NOUN
dem-11858	165	3	presented	present	VERB
dem-11858	165	4	in	in	ADP
dem-11858	165	5	the	the	DET
dem-11858	165	6	methodology	methodology	NOUN
dem-11858	165	7	as	as	SCONJ
dem-11858	165	8	the	the	DET
dem-11858	165	9	vertical	vertical	ADJ
dem-11858	165	10	convergence	convergence	NOUN
dem-11858	165	11	enables	enable	VERB
dem-11858	165	12	an	an	DET
dem-11858	165	13	assessment	assessment	NOUN
dem-11858	165	14	of	of	ADP
dem-11858	165	15	the	the	DET
dem-11858	165	16	impact	impact	NOUN
dem-11858	165	17	of	of	ADP
dem-11858	165	18	particular	particular	ADJ
dem-11858	165	19	issuers	issuer	NOUN
dem-11858	165	20	on	on	ADP
dem-11858	165	21	the	the	DET
dem-11858	165	22	analysed	analyse	VERB
dem-11858	165	23	phenomenon	phenomenon	NOUN
dem-11858	165	24	.	.	PUNCT
dem-11858	166	1	the	the	DET
dem-11858	166	2	numerical	numerical	ADJ
dem-11858	166	3	values	value	NOUN
dem-11858	166	4	contained	contain	VERB
dem-11858	166	5	in	in	ADP
dem-11858	166	6	table	table	NOUN
dem-11858	166	7	3	3	NUM
dem-11858	166	8	indicate	indicate	VERB
dem-11858	166	9	an	an	DET
dem-11858	166	10	individual	individual	ADJ
dem-11858	166	11	effect	effect	NOUN
dem-11858	166	12	of	of	ADP
dem-11858	166	13	each	each	PRON
dem-11858	166	14	of	of	ADP
dem-11858	166	15	the	the	DET
dem-11858	166	16	considered	consider	VERB
dem-11858	166	17	countries	country	NOUN
dem-11858	166	18	in	in	ADP
dem-11858	166	19	the	the	DET
dem-11858	166	20	process	process	NOUN
dem-11858	166	21	of	of	ADP
dem-11858	166	22	convergence	convergence	NOUN
dem-11858	166	23	/	/	SYM
dem-11858	166	24	divergence	divergence	NOUN
dem-11858	166	25	in	in	ADP
dem-11858	166	26	models	model	NOUN
dem-11858	166	27	(	(	PUNCT
dem-11858	166	28	1	1	NUM
dem-11858	166	29	)	)	PUNCT
dem-11858	166	30	and	and	CCONJ
dem-11858	166	31	(	(	PUNCT
dem-11858	166	32	2	2	X
dem-11858	166	33	)	)	PUNCT
dem-11858	166	34	in	in	ADP
dem-11858	166	35	both	both	DET
dem-11858	166	36	studied	study	VERB
dem-11858	166	37	periods	period	NOUN
dem-11858	166	38	.	.	PUNCT
dem-11858	167	1	the	the	DET
dem-11858	167	2	share	share	NOUN
dem-11858	167	3	of	of	ADP
dem-11858	167	4	european	european	ADJ
dem-11858	167	5	economies	economy	NOUN
dem-11858	167	6	in	in	ADP
dem-11858	167	7	the	the	DET
dem-11858	167	8	process	process	NOUN
dem-11858	167	9	of	of	ADP
dem-11858	167	10	convergence	convergence	NOUN
dem-11858	167	11	…	…	SYM
dem-11858	167	12	dynamic	dynamic	ADJ
dem-11858	167	13	econometric	econometric	ADJ
dem-11858	167	14	models	model	NOUN
dem-11858	167	15	16	16	NUM
dem-11858	167	16	(	(	PUNCT
dem-11858	167	17	2016	2016	NUM
dem-11858	167	18	)	)	PUNCT
dem-11858	167	19	165–187	165–187	NUM
dem-11858	167	20	179	179	NUM
dem-11858	167	21	table	table	NOUN
dem-11858	167	22	2	2	NUM
dem-11858	167	23	.	.	PUNCT
dem-11858	168	1	the	the	DET
dem-11858	168	2	values	value	NOUN
dem-11858	168	3	of	of	ADP
dem-11858	168	4	vertical	vertical	ADJ
dem-11858	168	5	convergence	convergence	NOUN
dem-11858	168	6	for	for	ADP
dem-11858	168	7	fe_ind	fe_ind	PROPN
dem-11858	168	8	and	and	CCONJ
dem-11858	168	9	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	168	10	models	model	NOUN
dem-11858	168	11	in	in	ADP
dem-11858	168	12	the	the	DET
dem-11858	168	13	two	two	NUM
dem-11858	168	14	analysed	analyse	VERB
dem-11858	168	15	periods	period	NOUN
dem-11858	168	16	between	between	ADP
dem-11858	168	17	01.2006–12.2010	01.2006–12.2010	PROPN
dem-11858	168	18	(	(	PUNCT
dem-11858	168	19	period	period	NOUN
dem-11858	168	20	i	i	NOUN
dem-11858	168	21	)	)	PUNCT
dem-11858	168	22	and	and	CCONJ
dem-11858	168	23	01.2011–11.2016	01.2011–11.2016	NUM
dem-11858	168	24	(	(	PUNCT
dem-11858	168	25	period	period	NOUN
dem-11858	168	26	ii	ii	NOUN
dem-11858	168	27	)	)	PUNCT
dem-11858	168	28	country	country	NOUN
dem-11858	168	29	fe_ind	fe_ind	PROPN
dem-11858	168	30	i	i	PROPN
dem-11858	168	31	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	168	32	i	i	PRON
dem-11858	168	33	fe_ind	fe_ind	PROPN
dem-11858	168	34	ii	ii	PROPN
dem-11858	168	35	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	168	36	ii	ii	PROPN
dem-11858	168	37	austria	austria	PROPN
dem-11858	168	38	belgium	belgium	PROPN
dem-11858	168	39	bulgaria	bulgaria	PROPN
dem-11858	168	40	croatia	croatia	PROPN
dem-11858	168	41	cyprus	cyprus	PROPN
dem-11858	168	42	czech	czech	PROPN
dem-11858	168	43	republic	republic	PROPN
dem-11858	168	44	denmark	denmark	PROPN
dem-11858	168	45	finland	finland	PROPN
dem-11858	168	46	france	france	PROPN
dem-11858	168	47	germany	germany	PROPN
dem-11858	168	48	greece	greece	PROPN
dem-11858	168	49	hungary	hungary	PROPN
dem-11858	168	50	ireland	ireland	PROPN
dem-11858	168	51	italy	italy	PROPN
dem-11858	168	52	latvia	latvia	PROPN
dem-11858	168	53	lithuania	lithuania	PROPN
dem-11858	168	54	luxembourg	luxembourg	PROPN
dem-11858	168	55	malta	malta	PROPN
dem-11858	168	56	netherlands	netherlands	PROPN
dem-11858	168	57	poland	poland	PROPN
dem-11858	168	58	portugal	portugal	PROPN
dem-11858	168	59	romania	romania	PROPN
dem-11858	168	60	slovakia	slovakia	PROPN
dem-11858	168	61	slovenia	slovenia	PROPN
dem-11858	168	62	spain	spain	PROPN
dem-11858	168	63	sweden	sweden	PROPN
dem-11858	168	64	united	united	PROPN
dem-11858	168	65	kingdom	kingdom	PROPN
dem-11858	168	66	–	–	PUNCT
dem-11858	168	67	1.978e-04	1.978e-04	NUM
dem-11858	168	68	–	–	PUNCT
dem-11858	168	69	1.966e-05	1.966e-05	NUM
dem-11858	168	70	–	–	PUNCT
dem-11858	168	71	9.050e-05	9.050e-05	NUM
dem-11858	168	72	–	–	PUNCT
dem-11858	168	73	1.092e-05	1.092e-05	NUM
dem-11858	168	74	–	–	PUNCT
dem-11858	168	75	7.016e-05	7.016e-05	NUM
dem-11858	168	76	–	–	PUNCT
dem-11858	168	77	1.058e-04	1.058e-04	NUM
dem-11858	168	78	–	–	SYM
dem-11858	168	79	4.643e-05	4.643e-05	NUM
dem-11858	168	80	2.581e-05	2.581e-05	NUM
dem-11858	168	81	–	–	PUNCT
dem-11858	168	82	5.015e-05	5.015e-05	NUM
dem-11858	168	83	–	–	PUNCT
dem-11858	168	84	2.993e-05	2.993e-05	NUM
dem-11858	168	85	–	–	PUNCT
dem-11858	168	86	1.959e-06	1.959e-06	NUM
dem-11858	168	87	–	–	PUNCT
dem-11858	168	88	5.007e-05	5.007e-05	NUM
dem-11858	168	89	–	–	PUNCT
dem-11858	168	90	1.055e-04	1.055e-04	NUM
dem-11858	168	91	–	–	PUNCT
dem-11858	168	92	1.994e-04	1.994e-04	NUM
dem-11858	168	93	1.278e-05	1.278e-05	NUM
dem-11858	168	94	–	–	PUNCT
dem-11858	168	95	5.970e-05	5.970e-05	NUM
dem-11858	168	96	–	–	PUNCT
dem-11858	168	97	1.156e-04	1.156e-04	NUM
dem-11858	168	98	5.281e-05	5.281e-05	NUM
dem-11858	168	99	–	–	PUNCT
dem-11858	168	100	1.004e-05	1.004e-05	NUM
dem-11858	168	101	1.101e-06	1.101e-06	NUM
dem-11858	168	102	–	–	PUNCT
dem-11858	168	103	2.333e-04	2.333e-04	NUM
dem-11858	168	104	1.332e-04	1.332e-04	NUM
dem-11858	168	105	2.929e-04	2.929e-04	NUM
dem-11858	168	106	1.139e-03	1.139e-03	NUM
dem-11858	168	107	–	–	PUNCT
dem-11858	168	108	7.314e-05	7.314e-05	NUM
dem-11858	168	109	–	–	PUNCT
dem-11858	168	110	2.921e-05	2.921e-05	NUM
dem-11858	168	111	–	–	PUNCT
dem-11858	168	112	1.308e-04	1.308e-04	NUM
dem-11858	168	113	–	–	PUNCT
dem-11858	168	114	2.931e-05	2.931e-05	NUM
dem-11858	168	115	–	–	PUNCT
dem-11858	168	116	1.373e-05	1.373e-05	NUM
dem-11858	168	117	2.743e-05	2.743e-05	NUM
dem-11858	168	118	2.093e-05	2.093e-05	NUM
dem-11858	168	119	4.153e-05	4.153e-05	NUM
dem-11858	168	120	4.999e-05	4.999e-05	NUM
dem-11858	168	121	4.003e-05	4.003e-05	NUM
dem-11858	168	122	4.348e-05	4.348e-05	NUM
dem-11858	168	123	1.183e-05	1.183e-05	NUM
dem-11858	168	124	4.352e-05	4.352e-05	NUM
dem-11858	168	125	4.175e-05	4.175e-05	NUM
dem-11858	168	126	4.342e-05	4.342e-05	NUM
dem-11858	168	127	4.446e-05	4.446e-05	NUM
dem-11858	168	128	3.473e-05	3.473e-05	NUM
dem-11858	168	129	1.625e-05	1.625e-05	NUM
dem-11858	168	130	4.099e-05	4.099e-05	NUM
dem-11858	168	131	4.155e-05	4.155e-05	NUM
dem-11858	168	132	4.570e-05	4.570e-05	NUM
dem-11858	168	133	4.564e-05	4.564e-05	NUM
dem-11858	168	134	4.460e-05	4.460e-05	NUM
dem-11858	168	135	6.394e-05	6.394e-05	NUM
dem-11858	168	136	7.529e-05	7.529e-05	NUM
dem-11858	168	137	6.739e-05	6.739e-05	NUM
dem-11858	168	138	2.103e-04	2.103e-04	NUM
dem-11858	168	139	2.755e-05	2.755e-05	NUM
dem-11858	168	140	3.759e-05	3.759e-05	NUM
dem-11858	168	141	3.421e-05	3.421e-05	NUM
dem-11858	168	142	1.837e-06	1.837e-06	NUM
dem-11858	168	143	–	–	PUNCT
dem-11858	168	144	6.786e-06	6.786e-06	NUM
dem-11858	168	145	7.330e-06	7.330e-06	NUM
dem-11858	168	146	7.062e-06	7.062e-06	NUM
dem-11858	168	147	1.372e-06	1.372e-06	NUM
dem-11858	168	148	4.723e-06	4.723e-06	NUM
dem-11858	168	149	–	–	PUNCT
dem-11858	168	150	2.431e-06	2.431e-06	NUM
dem-11858	168	151	–	–	PUNCT
dem-11858	168	152	3.075e-06	3.075e-06	NUM
dem-11858	168	153	1.137e-06	1.137e-06	NUM
dem-11858	168	154	–	–	PUNCT
dem-11858	168	155	7.202e-06	7.202e-06	NUM
dem-11858	168	156	–	–	PUNCT
dem-11858	168	157	4.328e-06	4.328e-06	NUM
dem-11858	168	158	–	–	PUNCT
dem-11858	168	159	1.099e-06	1.099e-06	NUM
dem-11858	168	160	7.484e-06	7.484e-06	NUM
dem-11858	168	161	4.399e-06	4.399e-06	NUM
dem-11858	168	162	–	–	PUNCT
dem-11858	168	163	4.330e-06	4.330e-06	NUM
dem-11858	168	164	–	–	PUNCT
dem-11858	168	165	2.743e-06	2.743e-06	NUM
dem-11858	168	166	2.912e-06	2.912e-06	NUM
dem-11858	168	167	–	–	PUNCT
dem-11858	168	168	1.051e-05	1.051e-05	NUM
dem-11858	168	169	6.585e-07	6.585e-07	NUM
dem-11858	168	170	5.809e-06	5.809e-06	NUM
dem-11858	168	171	–	–	PUNCT
dem-11858	168	172	4.054e-06	4.054e-06	NUM
dem-11858	168	173	–	–	SYM
dem-11858	168	174	8.785e-06	8.785e-06	NUM
dem-11858	168	175	–	–	PUNCT
dem-11858	168	176	1.359e-05	1.359e-05	NUM
dem-11858	168	177	4.256e-06	4.256e-06	NUM
dem-11858	168	178	2.164e-06	2.164e-06	NUM
dem-11858	168	179	1.405e-05	1.405e-05	NUM
dem-11858	168	180	4.641e-06	4.641e-06	NUM
dem-11858	168	181	–	–	PUNCT
dem-11858	168	182	1.162e-05	1.162e-05	NUM
dem-11858	168	183	–	–	PUNCT
dem-11858	168	184	2.258e-05	2.258e-05	NUM
dem-11858	168	185	–	–	PUNCT
dem-11858	168	186	6.546e-06	6.546e-06	NUM
dem-11858	168	187	–	–	PUNCT
dem-11858	168	188	6.544e-06	6.544e-06	NUM
dem-11858	168	189	–	–	PUNCT
dem-11858	168	190	9.359e-06	9.359e-06	NUM
dem-11858	168	191	–	–	PUNCT
dem-11858	168	192	8.369e-06	8.369e-06	NUM
dem-11858	168	193	–	–	PUNCT
dem-11858	168	194	1.194e-05	1.194e-05	NUM
dem-11858	168	195	–	–	PUNCT
dem-11858	168	196	1.295e-05	1.295e-05	NUM
dem-11858	168	197	–	–	PUNCT
dem-11858	168	198	1.392e-05	1.392e-05	NUM
dem-11858	168	199	–	–	PUNCT
dem-11858	168	200	1.506e-05	1.506e-05	NUM
dem-11858	168	201	–	–	PUNCT
dem-11858	168	202	1.269e-05	1.269e-05	NUM
dem-11858	168	203	–	–	PUNCT
dem-11858	168	204	2.193e-05	2.193e-05	NUM
dem-11858	168	205	–	–	PUNCT
dem-11858	168	206	7.521e-06	7.521e-06	NUM
dem-11858	168	207	–	–	PUNCT
dem-11858	168	208	1.430e-05	1.430e-05	NUM
dem-11858	168	209	–	–	PUNCT
dem-11858	168	210	1.898e-05	1.898e-05	NUM
dem-11858	168	211	–	–	PUNCT
dem-11858	168	212	2.149e-05	2.149e-05	NUM
dem-11858	168	213	–	–	PUNCT
dem-11858	168	214	1.528e-05	1.528e-05	NUM
dem-11858	168	215	–	–	PUNCT
dem-11858	168	216	1.770e-05	1.770e-05	NUM
dem-11858	168	217	–	–	PUNCT
dem-11858	168	218	9.869e-06	9.869e-06	NUM
dem-11858	168	219	–	–	PUNCT
dem-11858	168	220	4.258e-06	4.258e-06	NUM
dem-11858	168	221	–	–	PUNCT
dem-11858	168	222	1.903e-05	1.903e-05	NUM
dem-11858	168	223	–	–	PUNCT
dem-11858	168	224	1.276e-05	1.276e-05	NUM
dem-11858	168	225	–	–	PUNCT
dem-11858	168	226	1.192e-05	1.192e-05	NUM
dem-11858	168	227	–	–	SYM
dem-11858	168	228	1.574e-05	1.574e-05	NUM
dem-11858	168	229	–	–	PUNCT
dem-11858	168	230	6.340e-06	6.340e-06	NUM
dem-11858	168	231	–	–	PUNCT
dem-11858	168	232	1.355e-05	1.355e-05	NUM
dem-11858	168	233	–	–	PUNCT
dem-11858	168	234	1.006e-05	1.006e-05	NUM
dem-11858	168	235	figure	figure	NOUN
dem-11858	168	236	5	5	NUM
dem-11858	168	237	shows	show	VERB
dem-11858	168	238	the	the	DET
dem-11858	168	239	influence	influence	NOUN
dem-11858	168	240	of	of	ADP
dem-11858	168	241	particular	particular	ADJ
dem-11858	168	242	countries	country	NOUN
dem-11858	168	243	issuing	issue	VERB
dem-11858	168	244	ten	ten	NUM
dem-11858	168	245	-	-	PUNCT
dem-11858	168	246	year	year	NOUN
dem-11858	168	247	bonds	bond	NOUN
dem-11858	168	248	on	on	ADP
dem-11858	168	249	the	the	DET
dem-11858	168	250	convergence	convergence	NOUN
dem-11858	168	251	of	of	ADP
dem-11858	168	252	long	long	ADJ
dem-11858	168	253	-	-	PUNCT
dem-11858	168	254	term	term	NOUN
dem-11858	168	255	interest	interest	NOUN
dem-11858	168	256	rates	rate	NOUN
dem-11858	168	257	resulting	result	VERB
dem-11858	168	258	from	from	ADP
dem-11858	168	259	the	the	DET
dem-11858	168	260	model	model	NOUN
dem-11858	168	261	(	(	PUNCT
dem-11858	168	262	1	1	NUM
dem-11858	168	263	)	)	PUNCT
dem-11858	168	264	in	in	ADP
dem-11858	168	265	period	period	NOUN
dem-11858	168	266	i.	i.	NOUN
dem-11858	168	267	the	the	DET
dem-11858	168	268	positive	positive	ADJ
dem-11858	168	269	effects	effect	NOUN
dem-11858	168	270	are	be	AUX
dem-11858	168	271	visible	visible	ADJ
dem-11858	168	272	only	only	ADV
dem-11858	168	273	in	in	ADP
dem-11858	168	274	several	several	ADJ
dem-11858	168	275	countries	country	NOUN
dem-11858	168	276	,	,	PUNCT
dem-11858	168	277	elżbieta	elżbieta	PROPN
dem-11858	168	278	szulc	szulc	PROPN
dem-11858	168	279	,	,	PUNCT
dem-11858	168	280	dagna	dagna	VERB
dem-11858	168	281	wleklińska	wleklińska	NOUN
dem-11858	168	282	,	,	PUNCT
dem-11858	168	283	karolina	karolina	PROPN
dem-11858	168	284	górna	górna	PROPN
dem-11858	168	285	dynamic	dynamic	ADJ
dem-11858	168	286	econometric	econometric	ADJ
dem-11858	168	287	models	model	NOUN
dem-11858	168	288	16	16	NUM
dem-11858	168	289	(	(	PUNCT
dem-11858	168	290	2016	2016	NUM
dem-11858	168	291	)	)	PUNCT
dem-11858	168	292	165–187	165–187	NUM
dem-11858	168	293	180	180	NUM
dem-11858	168	294	mainly	mainly	ADV
dem-11858	168	295	those	those	PRON
dem-11858	168	296	located	locate	VERB
dem-11858	168	297	in	in	ADP
dem-11858	168	298	eastern	eastern	PROPN
dem-11858	168	299	europe	europe	PROPN
dem-11858	168	300	(	(	PUNCT
dem-11858	168	301	finland	finland	PROPN
dem-11858	168	302	,	,	PUNCT
dem-11858	168	303	latvia	latvia	PROPN
dem-11858	168	304	,	,	PUNCT
dem-11858	168	305	malta	malta	PROPN
dem-11858	168	306	,	,	PUNCT
dem-11858	168	307	poland	poland	PROPN
dem-11858	168	308	,	,	PUNCT
dem-11858	168	309	romania	romania	PROPN
dem-11858	168	310	,	,	PUNCT
dem-11858	168	311	slovakia	slovakia	PROPN
dem-11858	168	312	,	,	PUNCT
dem-11858	168	313	slovenia	slovenia	PROPN
dem-11858	168	314	)	)	PUNCT
dem-11858	168	315	.	.	PUNCT
dem-11858	169	1	figure	figure	NOUN
dem-11858	169	2	5	5	NUM
dem-11858	169	3	.	.	PUNCT
dem-11858	170	1	the	the	DET
dem-11858	170	2	impact	impact	NOUN
dem-11858	170	3	of	of	ADP
dem-11858	170	4	individual	individual	ADJ
dem-11858	170	5	countries	country	NOUN
dem-11858	170	6	on	on	ADP
dem-11858	170	7	the	the	DET
dem-11858	170	8	process	process	NOUN
dem-11858	170	9	of	of	ADP
dem-11858	170	10	equalisation	equalisation	NOUN
dem-11858	170	11	of	of	ADP
dem-11858	170	12	spreads	spread	NOUN
dem-11858	170	13	of	of	ADP
dem-11858	170	14	government	government	NOUN
dem-11858	170	15	bonds	bond	NOUN
dem-11858	170	16	in	in	ADP
dem-11858	170	17	the	the	DET
dem-11858	170	18	period	period	NOUN
dem-11858	170	19	between	between	ADP
dem-11858	170	20	01.2006–12.2010	01.2006–12.2010	PROPN
dem-11858	170	21	(	(	PUNCT
dem-11858	170	22	fe_ind	fe_ind	NOUN
dem-11858	170	23	)	)	PUNCT
dem-11858	170	24	figure	figure	NOUN
dem-11858	170	25	6	6	NUM
dem-11858	170	26	.	.	PUNCT
dem-11858	171	1	the	the	DET
dem-11858	171	2	distribution	distribution	NOUN
dem-11858	171	3	of	of	ADP
dem-11858	171	4	values	value	NOUN
dem-11858	171	5	of	of	ADP
dem-11858	171	6	vertical	vertical	ADJ
dem-11858	171	7	convergence	convergence	NOUN
dem-11858	171	8	of	of	ADP
dem-11858	171	9	spreads	spread	NOUN
dem-11858	171	10	of	of	ADP
dem-11858	171	11	government	government	NOUN
dem-11858	171	12	bonds	bond	NOUN
dem-11858	171	13	in	in	ADP
dem-11858	171	14	the	the	DET
dem-11858	171	15	period	period	NOUN
dem-11858	171	16	between	between	ADP
dem-11858	171	17	01.2006–12.2010	01.2006–12.2010	PROPN
dem-11858	171	18	(	(	PUNCT
dem-11858	171	19	fe_ind	fe_ind	NOUN
dem-11858	171	20	)	)	PUNCT
dem-11858	171	21	positive	positive	ADJ
dem-11858	171	22	impact	impact	NOUN
dem-11858	171	23	negative	negative	ADJ
dem-11858	171	24	impact	impact	NOUN
dem-11858	171	25	strong	strong	ADJ
dem-11858	171	26	negative	negative	ADJ
dem-11858	171	27	impact	impact	NOUN
dem-11858	171	28	weak	weak	ADJ
dem-11858	171	29	negative	negative	ADJ
dem-11858	171	30	impact	impact	NOUN
dem-11858	171	31	strong	strong	ADJ
dem-11858	171	32	positive	positive	ADJ
dem-11858	171	33	impact	impact	NOUN
dem-11858	171	34	weak	weak	ADJ
dem-11858	171	35	positive	positive	ADJ
dem-11858	171	36	impact	impact	NOUN
dem-11858	171	37	the	the	DET
dem-11858	171	38	share	share	NOUN
dem-11858	171	39	of	of	ADP
dem-11858	171	40	european	european	ADJ
dem-11858	171	41	economies	economy	NOUN
dem-11858	171	42	in	in	ADP
dem-11858	171	43	the	the	DET
dem-11858	171	44	process	process	NOUN
dem-11858	171	45	of	of	ADP
dem-11858	171	46	convergence	convergence	NOUN
dem-11858	171	47	…	…	SYM
dem-11858	171	48	dynamic	dynamic	ADJ
dem-11858	171	49	econometric	econometric	ADJ
dem-11858	171	50	models	model	NOUN
dem-11858	171	51	16	16	NUM
dem-11858	171	52	(	(	PUNCT
dem-11858	171	53	2016	2016	NUM
dem-11858	171	54	)	)	PUNCT
dem-11858	171	55	165–187	165–187	NUM
dem-11858	171	56	181	181	NUM
dem-11858	171	57	figure	figure	NOUN
dem-11858	171	58	6	6	NUM
dem-11858	171	59	is	be	AUX
dem-11858	171	60	a	a	DET
dem-11858	171	61	graphic	graphic	ADJ
dem-11858	171	62	illustration	illustration	NOUN
dem-11858	171	63	of	of	ADP
dem-11858	171	64	the	the	DET
dem-11858	171	65	distribution	distribution	NOUN
dem-11858	171	66	of	of	ADP
dem-11858	171	67	vertical	vertical	ADJ
dem-11858	171	68	convergence	convergence	NOUN
dem-11858	171	69	indicators	indicator	NOUN
dem-11858	171	70	divided	divide	VERB
dem-11858	171	71	into	into	ADP
dem-11858	171	72	four	four	NUM
dem-11858	171	73	classes	class	NOUN
dem-11858	171	74	.	.	PUNCT
dem-11858	172	1	the	the	DET
dem-11858	172	2	areas	area	NOUN
dem-11858	172	3	marked	mark	VERB
dem-11858	172	4	in	in	ADP
dem-11858	172	5	black	black	ADJ
dem-11858	172	6	and	and	CCONJ
dem-11858	172	7	the	the	DET
dem-11858	172	8	brightest	bright	ADJ
dem-11858	172	9	grey	grey	NOUN
dem-11858	172	10	are	be	AUX
dem-11858	172	11	characterized	characterize	VERB
dem-11858	172	12	by	by	ADP
dem-11858	172	13	high	high	ADJ
dem-11858	172	14	(	(	PUNCT
dem-11858	172	15	above	above	ADP
dem-11858	172	16	average	average	ADJ
dem-11858	172	17	)	)	PUNCT
dem-11858	172	18	negative	negative	ADJ
dem-11858	172	19	and	and	CCONJ
dem-11858	172	20	positive	positive	ADJ
dem-11858	172	21	values	value	NOUN
dem-11858	172	22	of	of	ADP
dem-11858	172	23	the	the	DET
dem-11858	172	24	index	index	NOUN
dem-11858	172	25	,	,	PUNCT
dem-11858	172	26	respectively	respectively	ADV
dem-11858	172	27	.	.	PUNCT
dem-11858	173	1	similarly	similarly	ADV
dem-11858	173	2	,	,	PUNCT
dem-11858	173	3	areas	area	NOUN
dem-11858	173	4	marked	mark	VERB
dem-11858	173	5	in	in	ADP
dem-11858	173	6	a	a	DET
dem-11858	173	7	darker	dark	ADJ
dem-11858	173	8	grey	grey	ADJ
dem-11858	173	9	colour	colour	NOUN
dem-11858	173	10	and	and	CCONJ
dem-11858	173	11	a	a	DET
dem-11858	173	12	slightly	slightly	ADV
dem-11858	173	13	lighter	light	ADJ
dem-11858	173	14	grey	grey	NOUN
dem-11858	173	15	are	be	AUX
dem-11858	173	16	characterised	characterise	VERB
dem-11858	173	17	by	by	ADP
dem-11858	173	18	low	low	ADJ
dem-11858	173	19	(	(	PUNCT
dem-11858	173	20	not	not	PART
dem-11858	173	21	exceeding	exceed	VERB
dem-11858	173	22	the	the	DET
dem-11858	173	23	average	average	ADJ
dem-11858	173	24	)	)	PUNCT
dem-11858	173	25	negative	negative	ADJ
dem-11858	173	26	and	and	CCONJ
dem-11858	173	27	positive	positive	ADJ
dem-11858	173	28	values	value	NOUN
dem-11858	173	29	.	.	PUNCT
dem-11858	174	1	the	the	DET
dem-11858	174	2	corresponding	correspond	VERB
dem-11858	174	3	pairs	pair	NOUN
dem-11858	174	4	of	of	ADP
dem-11858	174	5	maps	map	NOUN
dem-11858	174	6	show	show	VERB
dem-11858	174	7	results	result	NOUN
dem-11858	174	8	for	for	ADP
dem-11858	174	9	subsequent	subsequent	ADJ
dem-11858	174	10	analysed	analyse	VERB
dem-11858	174	11	regimes	regime	NOUN
dem-11858	174	12	differentiated	differentiate	VERB
dem-11858	174	13	by	by	ADP
dem-11858	174	14	model	model	NOUN
dem-11858	174	15	form	form	NOUN
dem-11858	174	16	and	and	CCONJ
dem-11858	174	17	time	time	NOUN
dem-11858	174	18	(	(	PUNCT
dem-11858	174	19	see	see	VERB
dem-11858	174	20	fig	fig	NOUN
dem-11858	174	21	.	.	PUNCT
dem-11858	175	1	712	712	NUM
dem-11858	175	2	)	)	PUNCT
dem-11858	175	3	.	.	PUNCT
dem-11858	176	1	the	the	DET
dem-11858	176	2	strongest	strong	ADJ
dem-11858	176	3	negative	negative	ADJ
dem-11858	176	4	impact	impact	NOUN
dem-11858	176	5	on	on	ADP
dem-11858	176	6	the	the	DET
dem-11858	176	7	convergence	convergence	NOUN
dem-11858	176	8	process	process	NOUN
dem-11858	176	9	of	of	ADP
dem-11858	176	10	long	long	ADJ
dem-11858	176	11	-	-	PUNCT
dem-11858	176	12	term	term	NOUN
dem-11858	176	13	interest	interest	NOUN
dem-11858	176	14	rates	rate	NOUN
dem-11858	176	15	in	in	ADP
dem-11858	176	16	the	the	DET
dem-11858	176	17	period	period	NOUN
dem-11858	176	18	between	between	ADP
dem-11858	176	19	01.200612.2010	01.200612.2010	NOUN
dem-11858	176	20	is	be	AUX
dem-11858	176	21	observed	observe	VERB
dem-11858	176	22	in	in	ADP
dem-11858	176	23	such	such	ADJ
dem-11858	176	24	countries	country	NOUN
dem-11858	176	25	as	as	ADP
dem-11858	176	26	portugal	portugal	PROPN
dem-11858	176	27	,	,	PUNCT
dem-11858	176	28	the	the	DET
dem-11858	176	29	united	united	PROPN
dem-11858	176	30	kingdom	kingdom	PROPN
dem-11858	176	31	,	,	PUNCT
dem-11858	176	32	ireland	ireland	PROPN
dem-11858	176	33	,	,	PUNCT
dem-11858	176	34	the	the	DET
dem-11858	176	35	czech	czech	PROPN
dem-11858	176	36	republic	republic	PROPN
dem-11858	176	37	,	,	PUNCT
dem-11858	176	38	italy	italy	PROPN
dem-11858	176	39	,	,	PUNCT
dem-11858	176	40	austria	austria	PROPN
dem-11858	176	41	and	and	CCONJ
dem-11858	176	42	bulgaria	bulgaria	PROPN
dem-11858	176	43	.	.	PUNCT
dem-11858	177	1	with	with	ADP
dem-11858	177	2	the	the	DET
dem-11858	177	3	exception	exception	NOUN
dem-11858	177	4	of	of	ADP
dem-11858	177	5	the	the	DET
dem-11858	177	6	czech	czech	PROPN
dem-11858	177	7	republic	republic	NOUN
dem-11858	177	8	and	and	CCONJ
dem-11858	177	9	bulgaria	bulgaria	PROPN
dem-11858	177	10	,	,	PUNCT
dem-11858	177	11	these	these	PRON
dem-11858	177	12	are	be	AUX
dem-11858	177	13	the	the	DET
dem-11858	177	14	countries	country	NOUN
dem-11858	177	15	where	where	SCONJ
dem-11858	177	16	the	the	DET
dem-11858	177	17	debt	debt	NOUN
dem-11858	177	18	ratio	ratio	NOUN
dem-11858	177	19	considerably	considerably	ADV
dem-11858	177	20	exceeded	exceed	VERB
dem-11858	177	21	60	60	NUM
dem-11858	177	22	percent	percent	NOUN
dem-11858	177	23	of	of	ADP
dem-11858	177	24	gdp	gdp	NOUN
dem-11858	177	25	.	.	PUNCT
dem-11858	178	1	the	the	DET
dem-11858	178	2	massively	massively	ADV
dem-11858	178	3	activated	activate	VERB
dem-11858	178	4	automatic	automatic	ADJ
dem-11858	178	5	stabilisers	stabiliser	NOUN
dem-11858	178	6	and	and	CCONJ
dem-11858	178	7	the	the	DET
dem-11858	178	8	introduction	introduction	NOUN
dem-11858	178	9	of	of	ADP
dem-11858	178	10	packages	package	NOUN
dem-11858	178	11	whose	whose	DET
dem-11858	178	12	purpose	purpose	NOUN
dem-11858	178	13	was	be	AUX
dem-11858	178	14	to	to	PART
dem-11858	178	15	stimulate	stimulate	VERB
dem-11858	178	16	the	the	DET
dem-11858	178	17	economic	economic	ADJ
dem-11858	178	18	growth	growth	NOUN
dem-11858	178	19	in	in	ADP
dem-11858	178	20	order	order	NOUN
dem-11858	178	21	to	to	PART
dem-11858	178	22	maintain	maintain	VERB
dem-11858	178	23	,	,	PUNCT
dem-11858	178	24	at	at	ADV
dem-11858	178	25	all	all	DET
dem-11858	178	26	cost	cost	NOUN
dem-11858	178	27	,	,	PUNCT
dem-11858	178	28	the	the	DET
dem-11858	178	29	current	current	ADJ
dem-11858	178	30	level	level	NOUN
dem-11858	178	31	of	of	ADP
dem-11858	178	32	global	global	ADJ
dem-11858	178	33	demand	demand	NOUN
dem-11858	178	34	,	,	PUNCT
dem-11858	178	35	ultimately	ultimately	ADV
dem-11858	178	36	led	lead	VERB
dem-11858	178	37	to	to	ADP
dem-11858	178	38	an	an	DET
dem-11858	178	39	abrupt	abrupt	ADJ
dem-11858	178	40	increase	increase	NOUN
dem-11858	178	41	in	in	ADP
dem-11858	178	42	debt	debt	NOUN
dem-11858	178	43	and	and	CCONJ
dem-11858	178	44	budget	budget	NOUN
dem-11858	178	45	deficits	deficit	NOUN
dem-11858	178	46	.	.	PUNCT
dem-11858	179	1	the	the	DET
dem-11858	179	2	biggest	big	ADJ
dem-11858	179	3	surprise	surprise	NOUN
dem-11858	179	4	is	be	AUX
dem-11858	179	5	the	the	DET
dem-11858	179	6	presence	presence	NOUN
dem-11858	179	7	of	of	ADP
dem-11858	179	8	ireland	ireland	PROPN
dem-11858	179	9	in	in	ADP
dem-11858	179	10	this	this	DET
dem-11858	179	11	group	group	NOUN
dem-11858	179	12	,	,	PUNCT
dem-11858	179	13	which	which	PRON
dem-11858	179	14	in	in	ADP
dem-11858	179	15	the	the	DET
dem-11858	179	16	years	year	NOUN
dem-11858	179	17	between	between	ADP
dem-11858	179	18	20002007	20002007	PROPN
dem-11858	179	19	could	could	AUX
dem-11858	179	20	pass	pass	VERB
dem-11858	179	21	as	as	ADP
dem-11858	179	22	a	a	DET
dem-11858	179	23	role	role	NOUN
dem-11858	179	24	model	model	NOUN
dem-11858	179	25	for	for	ADP
dem-11858	179	26	other	other	ADJ
dem-11858	179	27	european	european	ADJ
dem-11858	179	28	economies	economy	NOUN
dem-11858	179	29	.	.	PUNCT
dem-11858	180	1	figures	figure	NOUN
dem-11858	180	2	7	7	NUM
dem-11858	180	3	and	and	CCONJ
dem-11858	180	4	8	8	NUM
dem-11858	180	5	are	be	AUX
dem-11858	180	6	concerned	concern	VERB
dem-11858	180	7	with	with	ADP
dem-11858	180	8	the	the	DET
dem-11858	180	9	sar_fe_ind	sar_fe_ind	PROPN
dem-11858	180	10	model	model	NOUN
dem-11858	180	11	for	for	ADP
dem-11858	180	12	the	the	DET
dem-11858	180	13	period	period	NOUN
dem-11858	180	14	between	between	ADP
dem-11858	180	15	01.200612.2010	01.200612.2010	NOUN
dem-11858	180	16	.	.	PUNCT
dem-11858	181	1	in	in	ADP
dem-11858	181	2	the	the	DET
dem-11858	181	3	case	case	NOUN
dem-11858	181	4	of	of	ADP
dem-11858	181	5	such	such	DET
dem-11858	181	6	a	a	DET
dem-11858	181	7	model	model	NOUN
dem-11858	181	8	approach	approach	NOUN
dem-11858	181	9	,	,	PUNCT
dem-11858	181	10	we	we	PRON
dem-11858	181	11	may	may	AUX
dem-11858	181	12	speak	speak	VERB
dem-11858	181	13	of	of	ADP
dem-11858	181	14	a	a	DET
dem-11858	181	15	positive	positive	ADJ
dem-11858	181	16	impact	impact	NOUN
dem-11858	181	17	of	of	ADP
dem-11858	181	18	the	the	DET
dem-11858	181	19	majority	majority	NOUN
dem-11858	181	20	of	of	ADP
dem-11858	181	21	countries	country	NOUN
dem-11858	181	22	on	on	ADP
dem-11858	181	23	the	the	DET
dem-11858	181	24	analysed	analyse	VERB
dem-11858	181	25	process	process	NOUN
dem-11858	181	26	.	.	PUNCT
dem-11858	182	1	however	however	ADV
dem-11858	182	2	,	,	PUNCT
dem-11858	182	3	due	due	ADP
dem-11858	182	4	to	to	ADP
dem-11858	182	5	the	the	DET
dem-11858	182	6	poor	poor	ADJ
dem-11858	182	7	quality	quality	NOUN
dem-11858	182	8	of	of	ADP
dem-11858	182	9	the	the	DET
dem-11858	182	10	current	current	ADJ
dem-11858	182	11	model	model	NOUN
dem-11858	182	12	,	,	PUNCT
dem-11858	182	13	which	which	PRON
dem-11858	182	14	was	be	AUX
dem-11858	182	15	mentioned	mention	VERB
dem-11858	182	16	above	above	ADV
dem-11858	182	17	,	,	PUNCT
dem-11858	182	18	these	these	DET
dem-11858	182	19	results	result	NOUN
dem-11858	182	20	should	should	AUX
dem-11858	182	21	be	be	AUX
dem-11858	182	22	considered	consider	VERB
dem-11858	182	23	with	with	ADP
dem-11858	182	24	caution	caution	NOUN
dem-11858	182	25	.	.	PUNCT
dem-11858	183	1	in	in	ADP
dem-11858	183	2	turn	turn	NOUN
dem-11858	183	3	,	,	PUNCT
dem-11858	183	4	figures	figure	NOUN
dem-11858	183	5	9	9	NUM
dem-11858	183	6	and	and	CCONJ
dem-11858	183	7	10	10	NUM
dem-11858	183	8	show	show	VERB
dem-11858	183	9	the	the	DET
dem-11858	183	10	results	result	NOUN
dem-11858	183	11	obtained	obtain	VERB
dem-11858	183	12	on	on	ADP
dem-11858	183	13	the	the	DET
dem-11858	183	14	basis	basis	NOUN
dem-11858	183	15	of	of	ADP
dem-11858	183	16	a	a	DET
dem-11858	183	17	panel	panel	NOUN
dem-11858	183	18	data	datum	NOUN
dem-11858	183	19	model	model	NOUN
dem-11858	183	20	with	with	ADP
dem-11858	183	21	individual	individual	ADJ
dem-11858	183	22	effects	effect	NOUN
dem-11858	183	23	for	for	ADP
dem-11858	183	24	period	period	NOUN
dem-11858	183	25	ii	ii	NOUN
dem-11858	183	26	.	.	PUNCT
dem-11858	184	1	in	in	ADP
dem-11858	184	2	this	this	DET
dem-11858	184	3	case	case	NOUN
dem-11858	184	4	,	,	PUNCT
dem-11858	184	5	it	it	PRON
dem-11858	184	6	can	can	AUX
dem-11858	184	7	be	be	AUX
dem-11858	184	8	noted	note	VERB
dem-11858	184	9	that	that	SCONJ
dem-11858	184	10	in	in	ADP
dem-11858	184	11	the	the	DET
dem-11858	184	12	period	period	NOUN
dem-11858	184	13	between	between	ADP
dem-11858	184	14	01.201111.2016	01.201111.2016	PRON
dem-11858	184	15	there	there	PRON
dem-11858	184	16	is	be	VERB
dem-11858	184	17	a	a	DET
dem-11858	184	18	decrease	decrease	NOUN
dem-11858	184	19	in	in	ADP
dem-11858	184	20	the	the	DET
dem-11858	184	21	number	number	NOUN
dem-11858	184	22	of	of	ADP
dem-11858	184	23	countries	country	NOUN
dem-11858	184	24	adversely	adversely	ADV
dem-11858	184	25	affecting	affect	VERB
dem-11858	184	26	the	the	DET
dem-11858	184	27	process	process	NOUN
dem-11858	184	28	of	of	ADP
dem-11858	184	29	convergence	convergence	NOUN
dem-11858	184	30	of	of	ADP
dem-11858	184	31	longterm	longterm	ADJ
dem-11858	184	32	interest	interest	NOUN
dem-11858	184	33	rates	rate	NOUN
dem-11858	184	34	.	.	PUNCT
dem-11858	185	1	paradoxically	paradoxically	ADV
dem-11858	185	2	,	,	PUNCT
dem-11858	185	3	the	the	DET
dem-11858	185	4	β	β	X
dem-11858	185	5	parameter	parameter	NOUN
dem-11858	185	6	in	in	ADP
dem-11858	185	7	the	the	DET
dem-11858	185	8	considered	considered	ADJ
dem-11858	185	9	model	model	NOUN
dem-11858	185	10	turns	turn	VERB
dem-11858	185	11	out	out	ADP
dem-11858	185	12	to	to	PART
dem-11858	185	13	be	be	AUX
dem-11858	185	14	statistically	statistically	ADV
dem-11858	185	15	insignificant	insignificant	ADJ
dem-11858	185	16	,	,	PUNCT
dem-11858	185	17	and	and	CCONJ
dem-11858	185	18	,	,	PUNCT
dem-11858	185	19	thereby	thereby	ADV
dem-11858	185	20	,	,	PUNCT
dem-11858	185	21	does	do	AUX
dem-11858	185	22	not	not	PART
dem-11858	185	23	confirm	confirm	VERB
dem-11858	185	24	an	an	DET
dem-11858	185	25	occurrence	occurrence	NOUN
dem-11858	185	26	of	of	ADP
dem-11858	185	27	the	the	DET
dem-11858	185	28	analysed	analyse	VERB
dem-11858	185	29	phenomenon	phenomenon	NOUN
dem-11858	185	30	of	of	ADP
dem-11858	185	31	convergence	convergence	NOUN
dem-11858	185	32	.	.	PUNCT
dem-11858	186	1	the	the	DET
dem-11858	186	2	results	result	NOUN
dem-11858	186	3	of	of	ADP
dem-11858	186	4	analysis	analysis	NOUN
dem-11858	186	5	of	of	ADP
dem-11858	186	6	vertical	vertical	ADJ
dem-11858	186	7	convergence	convergence	NOUN
dem-11858	186	8	for	for	ADP
dem-11858	186	9	the	the	DET
dem-11858	186	10	model	model	NOUN
dem-11858	186	11	which	which	PRON
dem-11858	186	12	takes	take	VERB
dem-11858	186	13	into	into	ADP
dem-11858	186	14	account	account	NOUN
dem-11858	186	15	the	the	DET
dem-11858	186	16	dependencies	dependency	NOUN
dem-11858	186	17	based	base	VERB
dem-11858	186	18	on	on	ADP
dem-11858	186	19	the	the	DET
dem-11858	186	20	share	share	NOUN
dem-11858	186	21	of	of	ADP
dem-11858	186	22	debt	debt	NOUN
dem-11858	186	23	in	in	ADP
dem-11858	186	24	gdp	gdp	NOUN
dem-11858	186	25	for	for	ADP
dem-11858	186	26	the	the	DET
dem-11858	186	27	second	second	ADJ
dem-11858	186	28	researched	research	VERB
dem-11858	186	29	period	period	NOUN
dem-11858	186	30	are	be	AUX
dem-11858	186	31	shown	show	VERB
dem-11858	186	32	in	in	ADP
dem-11858	186	33	figures	figure	NOUN
dem-11858	186	34	11	11	NUM
dem-11858	186	35	and	and	CCONJ
dem-11858	186	36	12	12	NUM
dem-11858	186	37	.	.	PUNCT
dem-11858	187	1	it	it	PRON
dem-11858	187	2	should	should	AUX
dem-11858	187	3	be	be	AUX
dem-11858	187	4	noted	note	VERB
dem-11858	187	5	that	that	SCONJ
dem-11858	187	6	in	in	ADP
dem-11858	187	7	this	this	DET
dem-11858	187	8	case	case	NOUN
dem-11858	187	9	all	all	DET
dem-11858	187	10	the	the	DET
dem-11858	187	11	countries	country	NOUN
dem-11858	187	12	have	have	VERB
dem-11858	187	13	a	a	DET
dem-11858	187	14	negative	negative	ADJ
dem-11858	187	15	(	(	PUNCT
dem-11858	187	16	some	some	PRON
dem-11858	187	17	greater	great	ADJ
dem-11858	187	18	,	,	PUNCT
dem-11858	187	19	other	other	ADJ
dem-11858	187	20	smaller	small	ADJ
dem-11858	187	21			NOUN
dem-11858	187	22	see	see	VERB
dem-11858	187	23	figure	figure	NOUN
dem-11858	187	24	12	12	NUM
dem-11858	187	25	)	)	PUNCT
dem-11858	187	26	effect	effect	NOUN
dem-11858	187	27	on	on	ADP
dem-11858	187	28	the	the	DET
dem-11858	187	29	alignment	alignment	NOUN
dem-11858	187	30	process	process	NOUN
dem-11858	187	31	of	of	ADP
dem-11858	187	32	bond	bond	NOUN
dem-11858	187	33	yields	yield	NOUN
dem-11858	187	34	.	.	PUNCT
dem-11858	188	1	as	as	SCONJ
dem-11858	188	2	it	it	PRON
dem-11858	188	3	was	be	AUX
dem-11858	188	4	mentioned	mention	VERB
dem-11858	188	5	earlier	early	ADV
dem-11858	188	6	,	,	PUNCT
dem-11858	188	7	it	it	PRON
dem-11858	188	8	is	be	AUX
dem-11858	188	9	not	not	PART
dem-11858	188	10	surprising	surprising	ADJ
dem-11858	188	11	that	that	SCONJ
dem-11858	188	12	instead	instead	ADV
dem-11858	188	13	of	of	ADP
dem-11858	188	14	convergence	convergence	NOUN
dem-11858	188	15	we	we	PRON
dem-11858	188	16	may	may	AUX
dem-11858	188	17	in	in	ADP
dem-11858	188	18	fact	fact	NOUN
dem-11858	188	19	be	be	AUX
dem-11858	188	20	looking	look	VERB
dem-11858	188	21	at	at	ADP
dem-11858	188	22	the	the	DET
dem-11858	188	23	divergence	divergence	NOUN
dem-11858	188	24	process	process	NOUN
dem-11858	188	25	.	.	PUNCT
dem-11858	189	1	elżbieta	elżbieta	PROPN
dem-11858	189	2	szulc	szulc	PROPN
dem-11858	189	3	,	,	PUNCT
dem-11858	189	4	dagna	dagna	VERB
dem-11858	189	5	wleklińska	wleklińska	NOUN
dem-11858	189	6	,	,	PUNCT
dem-11858	189	7	karolina	karolina	PROPN
dem-11858	189	8	górna	górna	PROPN
dem-11858	189	9	dynamic	dynamic	ADJ
dem-11858	189	10	econometric	econometric	ADJ
dem-11858	189	11	models	model	NOUN
dem-11858	189	12	16	16	NUM
dem-11858	189	13	(	(	PUNCT
dem-11858	189	14	2016	2016	NUM
dem-11858	189	15	)	)	PUNCT
dem-11858	189	16	165–187	165–187	NUM
dem-11858	189	17	182	182	NUM
dem-11858	189	18	figure	figure	NOUN
dem-11858	189	19	7	7	NUM
dem-11858	189	20	.	.	PUNCT
dem-11858	190	1	the	the	DET
dem-11858	190	2	impact	impact	NOUN
dem-11858	190	3	of	of	ADP
dem-11858	190	4	individual	individual	ADJ
dem-11858	190	5	countries	country	NOUN
dem-11858	190	6	on	on	ADP
dem-11858	190	7	the	the	DET
dem-11858	190	8	process	process	NOUN
dem-11858	190	9	of	of	ADP
dem-11858	190	10	equalisation	equalisation	NOUN
dem-11858	190	11	of	of	ADP
dem-11858	190	12	spreads	spread	NOUN
dem-11858	190	13	of	of	ADP
dem-11858	190	14	government	government	NOUN
dem-11858	190	15	bonds	bond	NOUN
dem-11858	190	16	in	in	ADP
dem-11858	190	17	the	the	DET
dem-11858	190	18	period	period	NOUN
dem-11858	190	19	between	between	ADP
dem-11858	190	20	01.2006–12.2010	01.2006–12.2010	PROPN
dem-11858	190	21	(	(	PUNCT
dem-11858	190	22	sar_fe_ind	sar_fe_ind	NUM
dem-11858	190	23	)	)	PUNCT
dem-11858	190	24	figure	figure	NOUN
dem-11858	190	25	8	8	NUM
dem-11858	190	26	.	.	PUNCT
dem-11858	191	1	the	the	DET
dem-11858	191	2	distribution	distribution	NOUN
dem-11858	191	3	of	of	ADP
dem-11858	191	4	values	value	NOUN
dem-11858	191	5	of	of	ADP
dem-11858	191	6	vertical	vertical	ADJ
dem-11858	191	7	convergence	convergence	NOUN
dem-11858	191	8	of	of	ADP
dem-11858	191	9	spreads	spread	NOUN
dem-11858	191	10	of	of	ADP
dem-11858	191	11	government	government	NOUN
dem-11858	191	12	bonds	bond	NOUN
dem-11858	191	13	in	in	ADP
dem-11858	191	14	the	the	DET
dem-11858	191	15	period	period	NOUN
dem-11858	191	16	between	between	ADP
dem-11858	191	17	01.2006–12.2010	01.2006–12.2010	PROPN
dem-11858	191	18	(	(	PUNCT
dem-11858	191	19	sar_fe_ind	sar_fe_ind	NUM
dem-11858	191	20	)	)	PUNCT
dem-11858	191	21	positive	positive	ADJ
dem-11858	191	22	impact	impact	NOUN
dem-11858	191	23	negative	negative	ADJ
dem-11858	191	24	impact	impact	NOUN
dem-11858	191	25	strong	strong	ADJ
dem-11858	191	26	negative	negative	ADJ
dem-11858	191	27	impact	impact	NOUN
dem-11858	191	28	weak	weak	ADJ
dem-11858	191	29	negative	negative	ADJ
dem-11858	191	30	impact	impact	NOUN
dem-11858	191	31	strong	strong	ADJ
dem-11858	191	32	positive	positive	ADJ
dem-11858	191	33	impact	impact	NOUN
dem-11858	191	34	weak	weak	ADJ
dem-11858	191	35	positiwe	positiwe	NOUN
dem-11858	191	36	impact	impact	NOUN
dem-11858	191	37	the	the	DET
dem-11858	191	38	share	share	NOUN
dem-11858	191	39	of	of	ADP
dem-11858	191	40	european	european	ADJ
dem-11858	191	41	economies	economy	NOUN
dem-11858	191	42	in	in	ADP
dem-11858	191	43	the	the	DET
dem-11858	191	44	process	process	NOUN
dem-11858	191	45	of	of	ADP
dem-11858	191	46	convergence	convergence	NOUN
dem-11858	191	47	…	…	SYM
dem-11858	191	48	dynamic	dynamic	ADJ
dem-11858	191	49	econometric	econometric	ADJ
dem-11858	191	50	models	model	NOUN
dem-11858	191	51	16	16	NUM
dem-11858	191	52	(	(	PUNCT
dem-11858	191	53	2016	2016	NUM
dem-11858	191	54	)	)	PUNCT
dem-11858	191	55	165–187	165–187	NUM
dem-11858	191	56	183	183	NUM
dem-11858	191	57	figure	figure	NOUN
dem-11858	191	58	9	9	NUM
dem-11858	191	59	.	.	PUNCT
dem-11858	192	1	the	the	DET
dem-11858	192	2	impact	impact	NOUN
dem-11858	192	3	of	of	ADP
dem-11858	192	4	individual	individual	ADJ
dem-11858	192	5	countries	country	NOUN
dem-11858	192	6	on	on	ADP
dem-11858	192	7	the	the	DET
dem-11858	192	8	process	process	NOUN
dem-11858	192	9	of	of	ADP
dem-11858	192	10	equalisation	equalisation	NOUN
dem-11858	192	11	of	of	ADP
dem-11858	192	12	spreads	spread	NOUN
dem-11858	192	13	of	of	ADP
dem-11858	192	14	government	government	NOUN
dem-11858	192	15	bonds	bond	NOUN
dem-11858	192	16	in	in	ADP
dem-11858	192	17	the	the	DET
dem-11858	192	18	period	period	NOUN
dem-11858	192	19	between	between	ADP
dem-11858	192	20	01.2011–11.2016	01.2011–11.2016	NOUN
dem-11858	192	21	(	(	PUNCT
dem-11858	192	22	fe_ind	fe_ind	NOUN
dem-11858	192	23	)	)	PUNCT
dem-11858	192	24	figure	figure	NOUN
dem-11858	192	25	10	10	NUM
dem-11858	192	26	.	.	PUNCT
dem-11858	193	1	the	the	DET
dem-11858	193	2	distribution	distribution	NOUN
dem-11858	193	3	of	of	ADP
dem-11858	193	4	values	value	NOUN
dem-11858	193	5	of	of	ADP
dem-11858	193	6	vertical	vertical	ADJ
dem-11858	193	7	convergence	convergence	NOUN
dem-11858	193	8	of	of	ADP
dem-11858	193	9	spreads	spread	NOUN
dem-11858	193	10	of	of	ADP
dem-11858	193	11	government	government	NOUN
dem-11858	193	12	bonds	bond	NOUN
dem-11858	193	13	in	in	ADP
dem-11858	193	14	the	the	DET
dem-11858	193	15	period	period	NOUN
dem-11858	193	16	between	between	ADP
dem-11858	193	17	01.2011–11.2016	01.2011–11.2016	NOUN
dem-11858	193	18	(	(	PUNCT
dem-11858	193	19	fe_ind	fe_ind	NOUN
dem-11858	193	20	)	)	PUNCT
dem-11858	193	21	positive	positive	ADJ
dem-11858	193	22	impact	impact	NOUN
dem-11858	193	23	negative	negative	ADJ
dem-11858	193	24	impact	impact	NOUN
dem-11858	193	25	strong	strong	ADJ
dem-11858	193	26	negative	negative	ADJ
dem-11858	193	27	impact	impact	NOUN
dem-11858	193	28	weak	weak	ADJ
dem-11858	193	29	negative	negative	ADJ
dem-11858	193	30	impact	impact	NOUN
dem-11858	193	31	strong	strong	ADJ
dem-11858	193	32	positive	positive	ADJ
dem-11858	193	33	impact	impact	NOUN
dem-11858	193	34	weak	weak	ADJ
dem-11858	193	35	positiwe	positiwe	NOUN
dem-11858	193	36	impact	impact	NOUN
dem-11858	193	37	elżbieta	elżbieta	PROPN
dem-11858	193	38	szulc	szulc	PROPN
dem-11858	193	39	,	,	PUNCT
dem-11858	193	40	dagna	dagna	VERB
dem-11858	193	41	wleklińska	wleklińska	NOUN
dem-11858	193	42	,	,	PUNCT
dem-11858	193	43	karolina	karolina	PROPN
dem-11858	193	44	górna	górna	PROPN
dem-11858	193	45	dynamic	dynamic	ADJ
dem-11858	193	46	econometric	econometric	ADJ
dem-11858	193	47	models	model	NOUN
dem-11858	193	48	16	16	NUM
dem-11858	193	49	(	(	PUNCT
dem-11858	193	50	2016	2016	NUM
dem-11858	193	51	)	)	PUNCT
dem-11858	193	52	165–187	165–187	NUM
dem-11858	193	53	184	184	NUM
dem-11858	193	54	figure	figure	NOUN
dem-11858	193	55	11	11	NUM
dem-11858	193	56	.	.	PUNCT
dem-11858	194	1	the	the	DET
dem-11858	194	2	impact	impact	NOUN
dem-11858	194	3	of	of	ADP
dem-11858	194	4	individual	individual	ADJ
dem-11858	194	5	countries	country	NOUN
dem-11858	194	6	on	on	ADP
dem-11858	194	7	the	the	DET
dem-11858	194	8	process	process	NOUN
dem-11858	194	9	of	of	ADP
dem-11858	194	10	equalisation	equalisation	NOUN
dem-11858	194	11	of	of	ADP
dem-11858	194	12	spreads	spread	NOUN
dem-11858	194	13	of	of	ADP
dem-11858	194	14	government	government	NOUN
dem-11858	194	15	bonds	bond	NOUN
dem-11858	194	16	in	in	ADP
dem-11858	194	17	the	the	DET
dem-11858	194	18	period	period	NOUN
dem-11858	194	19	between	between	ADP
dem-11858	194	20	01.2011–11.2016	01.2011–11.2016	PROPN
dem-11858	194	21	(	(	PUNCT
dem-11858	194	22	sar_fe_ind	sar_fe_ind	NUM
dem-11858	194	23	)	)	PUNCT
dem-11858	194	24	figure	figure	NOUN
dem-11858	194	25	12	12	NUM
dem-11858	194	26	.	.	PUNCT
dem-11858	195	1	the	the	DET
dem-11858	195	2	distribution	distribution	NOUN
dem-11858	195	3	of	of	ADP
dem-11858	195	4	values	value	NOUN
dem-11858	195	5	of	of	ADP
dem-11858	195	6	vertical	vertical	ADJ
dem-11858	195	7	convergence	convergence	NOUN
dem-11858	195	8	of	of	ADP
dem-11858	195	9	spreads	spread	NOUN
dem-11858	195	10	of	of	ADP
dem-11858	195	11	government	government	NOUN
dem-11858	195	12	bonds	bond	NOUN
dem-11858	195	13	in	in	ADP
dem-11858	195	14	the	the	DET
dem-11858	195	15	period	period	NOUN
dem-11858	195	16	between	between	ADP
dem-11858	195	17	01.2011–11.2016	01.2011–11.2016	PROPN
dem-11858	195	18	(	(	PUNCT
dem-11858	195	19	sar_fe_ind	sar_fe_ind	NUM
dem-11858	195	20	)	)	PUNCT
dem-11858	195	21	positive	positive	ADJ
dem-11858	195	22	impact	impact	NOUN
dem-11858	195	23	negative	negative	ADJ
dem-11858	195	24	impact	impact	NOUN
dem-11858	195	25	strong	strong	ADJ
dem-11858	195	26	negative	negative	ADJ
dem-11858	195	27	impact	impact	NOUN
dem-11858	195	28	weak	weak	ADJ
dem-11858	195	29	negative	negative	ADJ
dem-11858	195	30	impact	impact	NOUN
dem-11858	195	31	the	the	DET
dem-11858	195	32	share	share	NOUN
dem-11858	195	33	of	of	ADP
dem-11858	195	34	european	european	ADJ
dem-11858	195	35	economies	economy	NOUN
dem-11858	195	36	in	in	ADP
dem-11858	195	37	the	the	DET
dem-11858	195	38	process	process	NOUN
dem-11858	195	39	of	of	ADP
dem-11858	195	40	convergence	convergence	NOUN
dem-11858	195	41	…	…	SYM
dem-11858	195	42	dynamic	dynamic	ADJ
dem-11858	195	43	econometric	econometric	ADJ
dem-11858	195	44	models	model	NOUN
dem-11858	195	45	16	16	NUM
dem-11858	195	46	(	(	PUNCT
dem-11858	195	47	2016	2016	NUM
dem-11858	195	48	)	)	PUNCT
dem-11858	195	49	165–187	165–187	NUM
dem-11858	195	50	185	185	NUM
dem-11858	195	51	conclusions	conclusion	NOUN
dem-11858	195	52	the	the	DET
dem-11858	195	53	global	global	ADJ
dem-11858	195	54	financial	financial	ADJ
dem-11858	195	55	crisis	crisis	NOUN
dem-11858	195	56	and	and	CCONJ
dem-11858	195	57	the	the	DET
dem-11858	195	58	debt	debt	NOUN
dem-11858	195	59	crisis	crisis	NOUN
dem-11858	195	60	in	in	ADP
dem-11858	195	61	the	the	DET
dem-11858	195	62	european	european	PROPN
dem-11858	195	63	union	union	PROPN
dem-11858	195	64	has	have	AUX
dem-11858	195	65	had	have	VERB
dem-11858	195	66	a	a	DET
dem-11858	195	67	severe	severe	ADJ
dem-11858	195	68	impact	impact	NOUN
dem-11858	195	69	on	on	ADP
dem-11858	195	70	many	many	ADJ
dem-11858	195	71	economic	economic	ADJ
dem-11858	195	72	processes	process	NOUN
dem-11858	195	73	taking	take	VERB
dem-11858	195	74	place	place	NOUN
dem-11858	195	75	in	in	ADP
dem-11858	195	76	the	the	DET
dem-11858	195	77	world	world	NOUN
dem-11858	195	78	.	.	PUNCT
dem-11858	196	1	the	the	DET
dem-11858	196	2	recession	recession	NOUN
dem-11858	196	3	tensions	tension	NOUN
dem-11858	196	4	increasing	increase	VERB
dem-11858	196	5	in	in	ADP
dem-11858	196	6	the	the	DET
dem-11858	196	7	global	global	ADJ
dem-11858	196	8	and	and	CCONJ
dem-11858	196	9	european	european	ADJ
dem-11858	196	10	economy	economy	NOUN
dem-11858	196	11	significantly	significantly	ADV
dem-11858	196	12	affected	affect	VERB
dem-11858	196	13	the	the	DET
dem-11858	196	14	convergence	convergence	NOUN
dem-11858	196	15	of	of	ADP
dem-11858	196	16	long	long	ADJ
dem-11858	196	17	-	-	PUNCT
dem-11858	196	18	term	term	NOUN
dem-11858	196	19	interest	interest	NOUN
dem-11858	196	20	rates	rate	NOUN
dem-11858	196	21	,	,	PUNCT
dem-11858	196	22	which	which	PRON
dem-11858	196	23	is	be	AUX
dem-11858	196	24	reflected	reflect	VERB
dem-11858	196	25	by	by	ADP
dem-11858	196	26	the	the	DET
dem-11858	196	27	state	state	NOUN
dem-11858	196	28	of	of	ADP
dem-11858	196	29	public	public	ADJ
dem-11858	196	30	finances	finance	NOUN
dem-11858	196	31	and	and	CCONJ
dem-11858	196	32	the	the	DET
dem-11858	196	33	business	business	NOUN
dem-11858	196	34	cycle	cycle	NOUN
dem-11858	196	35	.	.	PUNCT
dem-11858	197	1	at	at	ADP
dem-11858	197	2	the	the	DET
dem-11858	197	3	root	root	NOUN
dem-11858	197	4	of	of	ADP
dem-11858	197	5	the	the	DET
dem-11858	197	6	increasing	increase	VERB
dem-11858	197	7	divergence	divergence	NOUN
dem-11858	197	8	observed	observe	VERB
dem-11858	197	9	in	in	ADP
dem-11858	197	10	the	the	DET
dem-11858	197	11	analysed	analyse	VERB
dem-11858	197	12	period	period	NOUN
dem-11858	197	13	there	there	PRON
dem-11858	197	14	are	be	VERB
dem-11858	197	15	different	different	ADJ
dem-11858	197	16	approaches	approach	NOUN
dem-11858	197	17	to	to	ADP
dem-11858	197	18	fiscal	fiscal	ADJ
dem-11858	197	19	policy	policy	NOUN
dem-11858	197	20	and	and	CCONJ
dem-11858	197	21	significant	significant	ADJ
dem-11858	197	22	discrepancies	discrepancy	NOUN
dem-11858	197	23	concerning	concern	VERB
dem-11858	197	24	the	the	DET
dem-11858	197	25	state	state	NOUN
dem-11858	197	26	of	of	ADP
dem-11858	197	27	the	the	DET
dem-11858	197	28	public	public	ADJ
dem-11858	197	29	finances	finance	NOUN
dem-11858	197	30	of	of	ADP
dem-11858	197	31	european	european	ADJ
dem-11858	197	32	economies	economy	NOUN
dem-11858	197	33	.	.	PUNCT
dem-11858	198	1	the	the	DET
dem-11858	198	2	aim	aim	NOUN
dem-11858	198	3	of	of	ADP
dem-11858	198	4	the	the	DET
dem-11858	198	5	study	study	NOUN
dem-11858	198	6	was	be	AUX
dem-11858	198	7	to	to	PART
dem-11858	198	8	identify	identify	VERB
dem-11858	198	9	the	the	DET
dem-11858	198	10	impact	impact	NOUN
dem-11858	198	11	of	of	ADP
dem-11858	198	12	individual	individual	ADJ
dem-11858	198	13	eu	eu	PROPN
dem-11858	198	14	member	member	NOUN
dem-11858	198	15	countries	country	NOUN
dem-11858	198	16	on	on	ADP
dem-11858	198	17	the	the	DET
dem-11858	198	18	processes	process	NOUN
dem-11858	198	19	of	of	ADP
dem-11858	198	20	convergence	convergence	NOUN
dem-11858	198	21	/	/	SYM
dem-11858	198	22	divergence	divergence	NOUN
dem-11858	198	23	of	of	ADP
dem-11858	198	24	long	long	ADJ
dem-11858	198	25	-	-	PUNCT
dem-11858	198	26	term	term	NOUN
dem-11858	198	27	interest	interest	NOUN
dem-11858	198	28	rates	rate	NOUN
dem-11858	198	29	.	.	PUNCT
dem-11858	199	1	empirical	empirical	ADJ
dem-11858	199	2	analyses	analysis	NOUN
dem-11858	199	3	provide	provide	VERB
dem-11858	199	4	a	a	DET
dem-11858	199	5	clear	clear	ADJ
dem-11858	199	6	evidence	evidence	NOUN
dem-11858	199	7	that	that	SCONJ
dem-11858	199	8	in	in	ADP
dem-11858	199	9	the	the	DET
dem-11858	199	10	first	first	ADJ
dem-11858	199	11	analysed	analyse	VERB
dem-11858	199	12	sub	sub	NOUN
dem-11858	199	13	-	-	NOUN
dem-11858	199	14	period	period	NOUN
dem-11858	199	15	i.e.	i.e.	X
dem-11858	199	16	between	between	ADP
dem-11858	199	17	01.200612.2010	01.200612.2010	NOUN
dem-11858	199	18	the	the	DET
dem-11858	199	19	divergence	divergence	NOUN
dem-11858	199	20	in	in	ADP
dem-11858	199	21	yield	yield	NOUN
dem-11858	199	22	spreads	spread	NOUN
dem-11858	199	23	of	of	ADP
dem-11858	199	24	ten	ten	NUM
dem-11858	199	25	-	-	PUNCT
dem-11858	199	26	year	year	NOUN
dem-11858	199	27	treasury	treasury	NOUN
dem-11858	199	28	bonds	bond	NOUN
dem-11858	199	29	issued	issue	VERB
dem-11858	199	30	by	by	ADP
dem-11858	199	31	the	the	DET
dem-11858	199	32	european	european	ADJ
dem-11858	199	33	economies	economy	NOUN
dem-11858	199	34	were	be	AUX
dem-11858	199	35	reduced	reduce	VERB
dem-11858	199	36	,	,	PUNCT
dem-11858	199	37	as	as	SCONJ
dem-11858	199	38	evidenced	evidence	VERB
dem-11858	199	39	by	by	ADP
dem-11858	199	40	statistically	statistically	ADV
dem-11858	199	41	significant	significant	ADJ
dem-11858	199	42	and	and	CCONJ
dem-11858	199	43	negative	negative	ADJ
dem-11858	199	44	β	β	X
dem-11858	199	45	parameter	parameter	NOUN
dem-11858	199	46	.	.	PUNCT
dem-11858	200	1	however	however	ADV
dem-11858	200	2	,	,	PUNCT
dem-11858	200	3	given	give	VERB
dem-11858	200	4	the	the	DET
dem-11858	200	5	fact	fact	NOUN
dem-11858	200	6	that	that	SCONJ
dem-11858	200	7	during	during	ADP
dem-11858	200	8	this	this	DET
dem-11858	200	9	period	period	NOUN
dem-11858	200	10	a	a	DET
dem-11858	200	11	vast	vast	ADJ
dem-11858	200	12	majority	majority	NOUN
dem-11858	200	13	of	of	ADP
dem-11858	200	14	the	the	DET
dem-11858	200	15	eu	eu	PROPN
dem-11858	200	16	member	member	PROPN
dem-11858	200	17	states	state	NOUN
dem-11858	200	18	was	be	AUX
dem-11858	200	19	characterised	characterise	VERB
dem-11858	200	20	by	by	ADP
dem-11858	200	21	a	a	DET
dem-11858	200	22	negative	negative	ADJ
dem-11858	200	23	impact	impact	NOUN
dem-11858	200	24	on	on	ADP
dem-11858	200	25	the	the	DET
dem-11858	200	26	process	process	NOUN
dem-11858	200	27	of	of	ADP
dem-11858	200	28	convergence	convergence	NOUN
dem-11858	200	29	of	of	ADP
dem-11858	200	30	long	long	ADJ
dem-11858	200	31	-	-	PUNCT
dem-11858	200	32	term	term	NOUN
dem-11858	200	33	interest	interest	NOUN
dem-11858	200	34	rates	rate	NOUN
dem-11858	200	35	,	,	PUNCT
dem-11858	200	36	it	it	PRON
dem-11858	200	37	is	be	AUX
dem-11858	200	38	likely	likely	ADJ
dem-11858	200	39	that	that	SCONJ
dem-11858	200	40	the	the	DET
dem-11858	200	41	justification	justification	NOUN
dem-11858	200	42	of	of	ADP
dem-11858	200	43	the	the	DET
dem-11858	200	44	significance	significance	NOUN
dem-11858	200	45	and	and	CCONJ
dem-11858	200	46	the	the	DET
dem-11858	200	47	negative	negative	ADJ
dem-11858	200	48	value	value	NOUN
dem-11858	200	49	of	of	ADP
dem-11858	200	50	β	β	PROPN
dem-11858	200	51	parameter	parameter	NOUN
dem-11858	200	52	,	,	PUNCT
dem-11858	200	53	may	may	AUX
dem-11858	200	54	be	be	AUX
dem-11858	200	55	the	the	DET
dem-11858	200	56	fact	fact	NOUN
dem-11858	200	57	of	of	ADP
dem-11858	200	58	fulfillment	fulfillment	NOUN
dem-11858	200	59	of	of	ADP
dem-11858	200	60	the	the	DET
dem-11858	200	61	convergence	convergence	NOUN
dem-11858	200	62	criteria	criterion	NOUN
dem-11858	200	63	during	during	ADP
dem-11858	200	64	the	the	DET
dem-11858	200	65	introduction	introduction	NOUN
dem-11858	200	66	of	of	ADP
dem-11858	200	67	euro	euro	NOUN
dem-11858	200	68	into	into	ADP
dem-11858	200	69	the	the	DET
dem-11858	200	70	circulation	circulation	NOUN
dem-11858	200	71	,	,	PUNCT
dem-11858	200	72	i.e.	i.e.	X
dem-11858	200	73	in	in	ADP
dem-11858	200	74	2002	2002	NUM
dem-11858	200	75	as	as	ADV
dem-11858	200	76	well	well	ADV
dem-11858	200	77	as	as	ADP
dem-11858	200	78	in	in	ADP
dem-11858	200	79	the	the	DET
dem-11858	200	80	first	first	ADJ
dem-11858	200	81	years	year	NOUN
dem-11858	200	82	of	of	ADP
dem-11858	200	83	its	its	PRON
dem-11858	200	84	operation	operation	NOUN
dem-11858	200	85	.	.	PUNCT
dem-11858	201	1	probably	probably	ADV
dem-11858	201	2	the	the	DET
dem-11858	201	3	high	high	ADJ
dem-11858	201	4	rate	rate	NOUN
dem-11858	201	5	of	of	ADP
dem-11858	201	6	convergence	convergence	NOUN
dem-11858	201	7	in	in	ADP
dem-11858	201	8	the	the	DET
dem-11858	201	9	period	period	NOUN
dem-11858	201	10	preceding	precede	VERB
dem-11858	201	11	the	the	DET
dem-11858	201	12	time	time	NOUN
dem-11858	201	13	span	span	NOUN
dem-11858	201	14	of	of	ADP
dem-11858	201	15	the	the	DET
dem-11858	201	16	analysis	analysis	NOUN
dem-11858	201	17	carried	carry	VERB
dem-11858	201	18	out	out	ADP
dem-11858	201	19	in	in	ADP
dem-11858	201	20	this	this	DET
dem-11858	201	21	article	article	NOUN
dem-11858	201	22	enabled	enable	VERB
dem-11858	201	23	maintenance	maintenance	NOUN
dem-11858	201	24	of	of	ADP
dem-11858	201	25	the	the	DET
dem-11858	201	26	desired	desire	VERB
dem-11858	201	27	properties	property	NOUN
dem-11858	201	28	of	of	ADP
dem-11858	201	29	the	the	DET
dem-11858	201	30	convergence	convergence	NOUN
dem-11858	201	31	coefficient	coefficient	NOUN
dem-11858	201	32	,	,	PUNCT
dem-11858	201	33	despite	despite	SCONJ
dem-11858	201	34	the	the	DET
dem-11858	201	35	fact	fact	NOUN
dem-11858	201	36	of	of	ADP
dem-11858	201	37	an	an	DET
dem-11858	201	38	occurrence	occurrence	NOUN
dem-11858	201	39	of	of	ADP
dem-11858	201	40	a	a	DET
dem-11858	201	41	destimulating	destimulate	VERB
dem-11858	201	42	effect	effect	NOUN
dem-11858	201	43	of	of	ADP
dem-11858	201	44	most	most	ADJ
dem-11858	201	45	economies	economy	NOUN
dem-11858	201	46	on	on	ADP
dem-11858	201	47	the	the	DET
dem-11858	201	48	process	process	NOUN
dem-11858	201	49	of	of	ADP
dem-11858	201	50	convergence	convergence	NOUN
dem-11858	201	51	of	of	ADP
dem-11858	201	52	interest	interest	NOUN
dem-11858	201	53	rates	rate	NOUN
dem-11858	201	54	.	.	PUNCT
dem-11858	202	1	the	the	DET
dem-11858	202	2	properties	property	NOUN
dem-11858	202	3	of	of	ADP
dem-11858	202	4	the	the	DET
dem-11858	202	5	spatial	spatial	ADJ
dem-11858	202	6	model	model	NOUN
dem-11858	202	7	of	of	ADP
dem-11858	202	8	convergence	convergence	NOUN
dem-11858	202	9	of	of	ADP
dem-11858	202	10	ten	ten	NUM
dem-11858	202	11	-	-	PUNCT
dem-11858	202	12	year	year	NOUN
dem-11858	202	13	treasury	treasury	NOUN
dem-11858	202	14	bonds	bond	NOUN
dem-11858	202	15	estimated	estimate	VERB
dem-11858	202	16	for	for	ADP
dem-11858	202	17	the	the	DET
dem-11858	202	18	first	first	ADJ
dem-11858	202	19	period	period	NOUN
dem-11858	202	20	do	do	AUX
dem-11858	202	21	not	not	PART
dem-11858	202	22	allow	allow	VERB
dem-11858	202	23	confirmation	confirmation	NOUN
dem-11858	202	24	of	of	ADP
dem-11858	202	25	the	the	DET
dem-11858	202	26	hypothesis	hypothesis	NOUN
dem-11858	202	27	concerning	concern	VERB
dem-11858	202	28	the	the	DET
dem-11858	202	29	fact	fact	NOUN
dem-11858	202	30	that	that	SCONJ
dem-11858	202	31	the	the	DET
dem-11858	202	32	pace	pace	NOUN
dem-11858	202	33	of	of	ADP
dem-11858	202	34	changes	change	NOUN
dem-11858	202	35	of	of	ADP
dem-11858	202	36	long	long	ADJ
dem-11858	202	37	-	-	PUNCT
dem-11858	202	38	term	term	NOUN
dem-11858	202	39	interest	interest	NOUN
dem-11858	202	40	rates	rate	NOUN
dem-11858	202	41	in	in	ADP
dem-11858	202	42	a	a	DET
dem-11858	202	43	given	give	VERB
dem-11858	202	44	country	country	NOUN
dem-11858	202	45	affect	affect	VERB
dem-11858	202	46	long	long	ADJ
dem-11858	202	47	-	-	PUNCT
dem-11858	202	48	term	term	NOUN
dem-11858	202	49	interest	interest	NOUN
dem-11858	202	50	rates	rate	NOUN
dem-11858	202	51	in	in	ADP
dem-11858	202	52	countries	country	NOUN
dem-11858	202	53	with	with	ADP
dem-11858	202	54	a	a	DET
dem-11858	202	55	similar	similar	ADJ
dem-11858	202	56	fiscal	fiscal	ADJ
dem-11858	202	57	stability	stability	NOUN
dem-11858	202	58	,	,	PUNCT
dem-11858	202	59	measured	measure	VERB
dem-11858	202	60	by	by	ADP
dem-11858	202	61	the	the	DET
dem-11858	202	62	ratio	ratio	NOUN
dem-11858	202	63	of	of	ADP
dem-11858	202	64	public	public	ADJ
dem-11858	202	65	debt	debt	NOUN
dem-11858	202	66	to	to	ADP
dem-11858	202	67	gdp	gdp	NOUN
dem-11858	202	68	.	.	PUNCT
dem-11858	203	1	the	the	DET
dem-11858	203	2	same	same	ADJ
dem-11858	203	3	model	model	NOUN
dem-11858	203	4	estimated	estimate	VERB
dem-11858	203	5	for	for	ADP
dem-11858	203	6	the	the	DET
dem-11858	203	7	second	second	ADJ
dem-11858	203	8	period	period	NOUN
dem-11858	203	9	leads	lead	VERB
dem-11858	203	10	to	to	ADP
dem-11858	203	11	a	a	DET
dem-11858	203	12	different	different	ADJ
dem-11858	203	13	conclusion	conclusion	NOUN
dem-11858	203	14	,	,	PUNCT
dem-11858	203	15	namely	namely	ADV
dem-11858	203	16	such	such	ADJ
dem-11858	203	17	that	that	PRON
dem-11858	203	18	confirms	confirm	VERB
dem-11858	203	19	the	the	DET
dem-11858	203	20	hypothesis	hypothesis	NOUN
dem-11858	203	21	adopted	adopt	VERB
dem-11858	203	22	in	in	ADP
dem-11858	203	23	the	the	DET
dem-11858	203	24	paper	paper	NOUN
dem-11858	203	25	.	.	PUNCT
dem-11858	204	1	in	in	ADP
dem-11858	204	2	the	the	DET
dem-11858	204	3	period	period	NOUN
dem-11858	204	4	between	between	ADP
dem-11858	204	5	1.201111.2016	1.201111.2016	NUM
dem-11858	204	6	the	the	DET
dem-11858	204	7	differences	difference	NOUN
dem-11858	204	8	in	in	ADP
dem-11858	204	9	debt	debt	NOUN
dem-11858	204	10	played	play	VERB
dem-11858	204	11	a	a	DET
dem-11858	204	12	significant	significant	ADJ
dem-11858	204	13	role	role	NOUN
dem-11858	204	14	in	in	ADP
dem-11858	204	15	explaining	explain	VERB
dem-11858	204	16	the	the	DET
dem-11858	204	17	formation	formation	NOUN
dem-11858	204	18	of	of	ADP
dem-11858	204	19	the	the	DET
dem-11858	204	20	levels	level	NOUN
dem-11858	204	21	of	of	ADP
dem-11858	204	22	spreads	spread	NOUN
dem-11858	204	23	in	in	ADP
dem-11858	204	24	government	government	NOUN
dem-11858	204	25	bond	bond	NOUN
dem-11858	204	26	yields	yield	NOUN
dem-11858	204	27	.	.	PUNCT
dem-11858	205	1	the	the	DET
dem-11858	205	2	interest	interest	NOUN
dem-11858	205	3	rates	rate	NOUN
dem-11858	205	4	dictated	dictate	VERB
dem-11858	205	5	by	by	ADP
dem-11858	205	6	the	the	DET
dem-11858	205	7	european	european	PROPN
dem-11858	205	8	central	central	PROPN
dem-11858	205	9	bank	bank	PROPN
dem-11858	205	10	exerted	exert	VERB
dem-11858	205	11	a	a	DET
dem-11858	205	12	varying	vary	VERB
dem-11858	205	13	impact	impact	NOUN
dem-11858	205	14	on	on	ADP
dem-11858	205	15	the	the	DET
dem-11858	205	16	economic	economic	ADJ
dem-11858	205	17	situation	situation	NOUN
dem-11858	205	18	of	of	ADP
dem-11858	205	19	particular	particular	ADJ
dem-11858	205	20	economies	economy	NOUN
dem-11858	205	21	,	,	PUNCT
dem-11858	205	22	thus	thus	ADV
dem-11858	205	23	leading	lead	VERB
dem-11858	205	24	only	only	ADV
dem-11858	205	25	to	to	ADP
dem-11858	205	26	an	an	DET
dem-11858	205	27	increase	increase	NOUN
dem-11858	205	28	in	in	ADP
dem-11858	205	29	the	the	DET
dem-11858	205	30	heterogeneity	heterogeneity	NOUN
dem-11858	205	31	of	of	ADP
dem-11858	205	32	the	the	DET
dem-11858	205	33	european	european	PROPN
dem-11858	205	34	elżbieta	elżbieta	PROPN
dem-11858	205	35	szulc	szulc	PROPN
dem-11858	205	36	,	,	PUNCT
dem-11858	205	37	dagna	dagna	VERB
dem-11858	205	38	wleklińska	wleklińska	NOUN
dem-11858	205	39	,	,	PUNCT
dem-11858	205	40	karolina	karolina	PROPN
dem-11858	205	41	górna	górna	PROPN
dem-11858	205	42	dynamic	dynamic	ADJ
dem-11858	205	43	econometric	econometric	ADJ
dem-11858	205	44	models	model	NOUN
dem-11858	205	45	16	16	NUM
dem-11858	205	46	(	(	PUNCT
dem-11858	205	47	2016	2016	NUM
dem-11858	205	48	)	)	PUNCT
dem-11858	205	49	165–187	165–187	NUM
dem-11858	205	50	186	186	NUM
dem-11858	205	51	union	union	NOUN
dem-11858	205	52	,	,	PUNCT
dem-11858	205	53	with	with	ADP
dem-11858	205	54	the	the	DET
dem-11858	205	55	result	result	NOUN
dem-11858	205	56	that	that	SCONJ
dem-11858	205	57	in	in	ADP
dem-11858	205	58	relation	relation	NOUN
dem-11858	205	59	to	to	ADP
dem-11858	205	60	that	that	DET
dem-11858	205	61	period	period	NOUN
dem-11858	205	62	it	it	PRON
dem-11858	205	63	is	be	AUX
dem-11858	205	64	appropriate	appropriate	ADJ
dem-11858	205	65	to	to	PART
dem-11858	205	66	speak	speak	VERB
dem-11858	205	67	of	of	ADP
dem-11858	205	68	a	a	DET
dem-11858	205	69	move	move	NOUN
dem-11858	205	70	towards	towards	ADP
dem-11858	205	71	divergence	divergence	NOUN
dem-11858	205	72	of	of	ADP
dem-11858	205	73	interest	interest	NOUN
dem-11858	205	74	rates	rate	NOUN
dem-11858	205	75	in	in	ADP
dem-11858	205	76	the	the	DET
dem-11858	205	77	community	community	NOUN
dem-11858	205	78	.	.	PUNCT
dem-11858	206	1	in	in	ADP
dem-11858	206	2	order	order	NOUN
dem-11858	206	3	to	to	PART
dem-11858	206	4	confirm	confirm	VERB
dem-11858	206	5	these	these	DET
dem-11858	206	6	suppositions	supposition	NOUN
dem-11858	206	7	the	the	DET
dem-11858	206	8	research	research	NOUN
dem-11858	206	9	should	should	AUX
dem-11858	206	10	be	be	AUX
dem-11858	206	11	continued	continue	VERB
dem-11858	206	12	with	with	ADP
dem-11858	206	13	consideration	consideration	NOUN
dem-11858	206	14	of	of	ADP
dem-11858	206	15	an	an	DET
dem-11858	206	16	extended	extended	ADJ
dem-11858	206	17	time	time	NOUN
dem-11858	206	18	span	span	NOUN
dem-11858	206	19	of	of	ADP
dem-11858	206	20	the	the	DET
dem-11858	206	21	analysis	analysis	NOUN
dem-11858	206	22	to	to	PART
dem-11858	206	23	take	take	VERB
dem-11858	206	24	into	into	ADP
dem-11858	206	25	account	account	NOUN
dem-11858	206	26	the	the	DET
dem-11858	206	27	period	period	NOUN
dem-11858	206	28	of	of	ADP
dem-11858	206	29	adoption	adoption	NOUN
dem-11858	206	30	of	of	ADP
dem-11858	206	31	the	the	DET
dem-11858	206	32	euro	euro	NOUN
dem-11858	206	33	.	.	PUNCT
dem-11858	207	1	references	reference	NOUN
dem-11858	207	2	adam	adam	PROPN
dem-11858	207	3	,	,	PUNCT
dem-11858	207	4	k.	k.	PROPN
dem-11858	207	5	,	,	PUNCT
dem-11858	207	6	jappelli	jappelli	PROPN
dem-11858	207	7	,	,	PUNCT
dem-11858	207	8	t.	t.	PROPN
dem-11858	207	9	,	,	PUNCT
dem-11858	207	10	menichini	menichini	PROPN
dem-11858	207	11	,	,	PUNCT
dem-11858	207	12	a.	a.	NOUN
dem-11858	207	13	,	,	PUNCT
dem-11858	207	14	paduka	paduka	NOUN
dem-11858	207	15	,	,	PUNCT
dem-11858	207	16	m.	m.	NOUN
dem-11858	207	17	,	,	PUNCT
dem-11858	207	18	pagano	pagano	NOUN
dem-11858	207	19	,	,	PUNCT
dem-11858	207	20	m.	m.	NOUN
dem-11858	207	21	(	(	PUNCT
dem-11858	207	22	2002	2002	NUM
dem-11858	207	23	)	)	PUNCT
dem-11858	207	24	,	,	PUNCT
dem-11858	207	25	analyse	analyse	NOUN
dem-11858	207	26	,	,	PUNCT
dem-11858	207	27	compare	compare	NOUN
dem-11858	207	28	,	,	PUNCT
dem-11858	207	29	and	and	CCONJ
dem-11858	207	30	apply	apply	VERB
dem-11858	207	31	alternative	alternative	ADJ
dem-11858	207	32	indicators	indicator	NOUN
dem-11858	207	33	and	and	CCONJ
dem-11858	207	34	monitoring	monitor	VERB
dem-11858	207	35	methodologies	methodology	NOUN
dem-11858	207	36	to	to	PART
dem-11858	207	37	measure	measure	VERB
dem-11858	207	38	the	the	DET
dem-11858	207	39	evolution	evolution	NOUN
dem-11858	207	40	of	of	ADP
dem-11858	207	41	capital	capital	NOUN
dem-11858	207	42	market	market	NOUN
dem-11858	207	43	integration	integration	NOUN
dem-11858	207	44	in	in	ADP
dem-11858	207	45	the	the	DET
dem-11858	207	46	european	european	PROPN
dem-11858	207	47	union	union	PROPN
dem-11858	207	48	,	,	PUNCT
dem-11858	207	49	centre	centre	NOUN
dem-11858	207	50	for	for	ADP
dem-11858	207	51	studies	study	NOUN
dem-11858	207	52	in	in	ADP
dem-11858	207	53	economics	economic	NOUN
dem-11858	207	54	and	and	CCONJ
dem-11858	207	55	finance	finance	NOUN
dem-11858	207	56	,	,	PUNCT
dem-11858	207	57	university	university	NOUN
dem-11858	207	58	of	of	ADP
dem-11858	207	59	salerno	salerno	PROPN
dem-11858	207	60	,	,	PUNCT
dem-11858	207	61	http://europa.eu.int/comm/internal_market/en/update/economicreform/020128	http://europa.eu.int/comm/internal_market/en/update/economicreform/020128	PUNCT
dem-11858	207	62	_	_	PUNCT
dem-11858	208	1	cap_mark_int_en.pdf	cap_mark_int_en.pdf	PROPN
dem-11858	208	2	alary	alary	NOUN
dem-11858	208	3	and	and	CCONJ
dem-11858	208	4	gollier	gollier	NOUN
dem-11858	208	5	.	.	PUNCT
dem-11858	209	1	afonso	afonso	PROPN
dem-11858	209	2	,	,	PUNCT
dem-11858	209	3	a.	a.	NOUN
dem-11858	209	4	,	,	PUNCT
dem-11858	209	5	arghyrou	arghyrou	ADJ
dem-11858	209	6	,	,	PUNCT
dem-11858	209	7	m.	m.	NOUN
dem-11858	209	8	,	,	PUNCT
dem-11858	209	9	kontonikas	kontonikas	PROPN
dem-11858	209	10	,	,	PUNCT
dem-11858	209	11	m.	m.	NOUN
dem-11858	209	12	(	(	PUNCT
dem-11858	209	13	2012	2012	NUM
dem-11858	209	14	)	)	PUNCT
dem-11858	209	15	,	,	PUNCT
dem-11858	209	16	the	the	DET
dem-11858	209	17	determinants	determinant	NOUN
dem-11858	209	18	of	of	ADP
dem-11858	209	19	sovereign	sovereign	ADJ
dem-11858	209	20	bond	bond	NOUN
dem-11858	209	21	yield	yield	NOUN
dem-11858	209	22	spreads	spread	NOUN
dem-11858	209	23	in	in	ADP
dem-11858	209	24	the	the	DET
dem-11858	209	25	emu	emu	PROPN
dem-11858	209	26	,	,	PUNCT
dem-11858	209	27	european	european	PROPN
dem-11858	209	28	central	central	PROPN
dem-11858	209	29	bank	bank	PROPN
dem-11858	209	30	,	,	PUNCT
dem-11858	209	31	iseg	iseg	ADJ
dem-11858	209	32	economics	economic	NOUN
dem-11858	209	33	working	working	NOUN
dem-11858	209	34	paper	paper	NOUN
dem-11858	209	35	.	.	PUNCT
dem-11858	210	1	https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1781.en.pdf?7a5b97c0f1475221387	https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1781.en.pdf?7a5b97c0f1475221387	NOUN
dem-11858	210	2	50dacb92a6f5a	50dacb92a6f5a	NUM
dem-11858	210	3	,	,	PUNCT
dem-11858	210	4	doi	doi	NOUN
dem-11858	210	5	:	:	PUNCT
dem-11858	210	6	http://dx.doi.org/10.2139/ssrn.2223140	http://dx.doi.org/10.2139/ssrn.2223140	NOUN
dem-11858	210	7	.	.	X
dem-11858	210	8	attinasi	attinasi	NOUN
dem-11858	210	9	,	,	PUNCT
dem-11858	210	10	g.	g.	PROPN
dem-11858	210	11	m.	m.	PROPN
dem-11858	210	12	,	,	PUNCT
dem-11858	210	13	checherita	checherita	NOUN
dem-11858	210	14	-	-	PUNCT
dem-11858	210	15	westphal	westphal	NOUN
dem-11858	210	16	,	,	PUNCT
dem-11858	210	17	c.	c.	PROPN
dem-11858	210	18	d.	d.	PROPN
dem-11858	210	19	,	,	PUNCT
dem-11858	210	20	nickel	nickel	NOUN
dem-11858	210	21	,	,	PUNCT
dem-11858	210	22	c.	c.	NOUN
dem-11858	210	23	(	(	PUNCT
dem-11858	210	24	2009	2009	NUM
dem-11858	210	25	)	)	PUNCT
dem-11858	210	26	,	,	PUNCT
dem-11858	210	27	what	what	PRON
dem-11858	210	28	explains	explain	VERB
dem-11858	210	29	the	the	DET
dem-11858	210	30	surge	surge	NOUN
dem-11858	210	31	in	in	ADP
dem-11858	210	32	euro	euro	PROPN
dem-11858	210	33	area	area	NOUN
dem-11858	210	34	sovereign	sovereign	ADJ
dem-11858	210	35	spreads	spread	NOUN
dem-11858	210	36	during	during	ADP
dem-11858	210	37	the	the	DET
dem-11858	210	38	financial	financial	ADJ
dem-11858	210	39	crisis	crisis	NOUN
dem-11858	210	40	of	of	ADP
dem-11858	210	41	2007	2007	NUM
dem-11858	210	42	-	-	SYM
dem-11858	210	43	09	09	NUM
dem-11858	210	44	?	?	NUM
dem-11858	210	45	,	,	PUNCT
dem-11858	210	46	european	european	PROPN
dem-11858	210	47	central	central	PROPN
dem-11858	210	48	bank	bank	PROPN
dem-11858	210	49	,	,	PUNCT
dem-11858	210	50	working	work	VERB
dem-11858	210	51	paper	paper	NOUN
dem-11858	210	52	series	series	PROPN
dem-11858	210	53	no	no	PROPN
dem-11858	210	54	.	.	PROPN
dem-11858	210	55	1131	1131	NUM
dem-11858	210	56	,	,	PUNCT
dem-11858	210	57	https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1131.pdf?57b2f4d1d575836598a0a	https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1131.pdf?57b2f4d1d575836598a0a	PROPN
dem-11858	210	58	7461ab62fb2	7461ab62fb2	NUM
dem-11858	210	59	.	.	PUNCT
dem-11858	211	1	baele	baele	PROPN
dem-11858	211	2	,	,	PUNCT
dem-11858	211	3	l.	l.	PROPN
dem-11858	211	4	,	,	PUNCT
dem-11858	211	5	ferrando	ferrando	PROPN
dem-11858	211	6	,	,	PUNCT
dem-11858	211	7	a.	a.	NOUN
dem-11858	211	8	,	,	PUNCT
dem-11858	211	9	hordahl	hordahl	INTJ
dem-11858	211	10	,	,	PUNCT
dem-11858	211	11	p.	p.	PROPN
dem-11858	211	12	,	,	PUNCT
dem-11858	211	13	krylova	krylova	PROPN
dem-11858	211	14	,	,	PUNCT
dem-11858	211	15	e.	e.	PROPN
dem-11858	211	16	,	,	PUNCT
dem-11858	211	17	monnet	monnet	PROPN
dem-11858	211	18	,	,	PUNCT
dem-11858	211	19	c.	c.	PROPN
dem-11858	211	20	(	(	PUNCT
dem-11858	211	21	2004	2004	NUM
dem-11858	211	22	)	)	PUNCT
dem-11858	211	23	,	,	PUNCT
dem-11858	211	24	measuring	measure	VERB
dem-11858	211	25	financial	financial	ADJ
dem-11858	211	26	integration	integration	NOUN
dem-11858	211	27	in	in	ADP
dem-11858	211	28	the	the	DET
dem-11858	211	29	euro	euro	PROPN
dem-11858	211	30	area	area	NOUN
dem-11858	211	31	,	,	PUNCT
dem-11858	211	32	european	european	PROPN
dem-11858	211	33	central	central	PROPN
dem-11858	211	34	bank	bank	PROPN
dem-11858	211	35	,	,	PUNCT
dem-11858	211	36	occasional	occasional	ADJ
dem-11858	211	37	paper	paper	NOUN
dem-11858	211	38	series	series	NOUN
dem-11858	211	39	no	no	PROPN
dem-11858	211	40	.	.	PROPN
dem-11858	211	41	14	14	NUM
dem-11858	211	42	.	.	PUNCT
dem-11858	212	1	https://www.ecb.europa.eu/pub/pdf/scpops/ecbocp14.pdf	https://www.ecb.europa.eu/pub/pdf/scpops/ecbocp14.pdf	NOUN
dem-11858	212	2	.	.	PUNCT
dem-11858	213	1	barrios	barrio	NOUN
dem-11858	213	2	,	,	PUNCT
dem-11858	213	3	s.	s.	PROPN
dem-11858	213	4	,	,	PUNCT
dem-11858	213	5	iversen	iversen	PROPN
dem-11858	213	6	,	,	PUNCT
dem-11858	213	7	p.	p.	NOUN
dem-11858	213	8	,	,	PUNCT
dem-11858	213	9	lewandowska	lewandowska	PROPN
dem-11858	213	10	,	,	PUNCT
dem-11858	213	11	m.	m.	NOUN
dem-11858	213	12	,	,	PUNCT
dem-11858	213	13	setzer	setzer	PROPN
dem-11858	213	14	,	,	PUNCT
dem-11858	213	15	r.	r.	PROPN
dem-11858	213	16	,	,	PUNCT
dem-11858	213	17	(	(	PUNCT
dem-11858	213	18	2009	2009	NUM
dem-11858	213	19	)	)	PUNCT
dem-11858	213	20	,	,	PUNCT
dem-11858	213	21	determinants	determinant	NOUN
dem-11858	213	22	of	of	ADP
dem-11858	213	23	intra	intra	ADJ
dem-11858	213	24	-	-	ADJ
dem-11858	213	25	euro	euro	ADJ
dem-11858	213	26	area	area	NOUN
dem-11858	213	27	government	government	NOUN
dem-11858	213	28	bond	bond	NOUN
dem-11858	213	29	spreads	spread	VERB
dem-11858	213	30	during	during	ADP
dem-11858	213	31	the	the	DET
dem-11858	213	32	financial	financial	ADJ
dem-11858	213	33	crisis	crisis	NOUN
dem-11858	213	34	,	,	PUNCT
dem-11858	213	35	european	european	ADJ
dem-11858	213	36	economy	economy	NOUN
dem-11858	213	37	–	–	PUNCT
dem-11858	213	38	economic	economic	ADJ
dem-11858	213	39	papers	paper	NOUN
dem-11858	213	40	388	388	NUM
dem-11858	213	41	,	,	PUNCT
dem-11858	213	42	directorate	directorate	ADJ
dem-11858	213	43	general	general	ADJ
dem-11858	213	44	economic	economic	ADJ
dem-11858	213	45	and	and	CCONJ
dem-11858	213	46	monetary	monetary	ADJ
dem-11858	213	47	affairs	affair	NOUN
dem-11858	213	48	(	(	PUNCT
dem-11858	213	49	dg	dg	NOUN
dem-11858	213	50	ecfin	ecfin	NOUN
dem-11858	213	51	)	)	PUNCT
dem-11858	213	52	,	,	PUNCT
dem-11858	213	53	european	european	PROPN
dem-11858	213	54	commission	commission	PROPN
dem-11858	213	55	,	,	PUNCT
dem-11858	213	56	http://ec.europa.eu/economy_finance/publications/pages/publication16255_en.pdf	http://ec.europa.eu/economy_finance/publications/pages/publication16255_en.pdf	PROPN
dem-11858	213	57	blanchard	blanchard	NOUN
dem-11858	213	58	,	,	PUNCT
dem-11858	213	59	o.	o.	PROPN
dem-11858	213	60	j.	j.	PROPN
dem-11858	213	61	(	(	PUNCT
dem-11858	213	62	1990	1990	NUM
dem-11858	213	63	)	)	PUNCT
dem-11858	213	64	,	,	PUNCT
dem-11858	213	65	suggestions	suggestion	NOUN
dem-11858	213	66	for	for	ADP
dem-11858	213	67	a	a	DET
dem-11858	213	68	new	new	ADJ
dem-11858	213	69	set	set	NOUN
dem-11858	213	70	of	of	ADP
dem-11858	213	71	fiscal	fiscal	ADJ
dem-11858	213	72	indicators	indicator	NOUN
dem-11858	213	73	,	,	PUNCT
dem-11858	213	74	oecd	oecd	PROPN
dem-11858	213	75	department	department	PROPN
dem-11858	213	76	of	of	ADP
dem-11858	213	77	economics	economic	NOUN
dem-11858	213	78	and	and	CCONJ
dem-11858	213	79	statistics	statistic	NOUN
dem-11858	213	80	,	,	PUNCT
dem-11858	213	81	working	working	NOUN
dem-11858	213	82	papers	paper	NOUN
dem-11858	213	83	no	no	INTJ
dem-11858	213	84	.	.	PROPN
dem-11858	213	85	79	79	NUM
dem-11858	213	86	.	.	PUNCT
dem-11858	214	1	http://www.oecdilibrary.org/docserver/download/435618162862.pdf?expires=1486293	http://www.oecdilibrary.org/docserver/download/435618162862.pdf?expires=1486293	NOUN
dem-11858	214	2	197&id	197&id	NOUN
dem-11858	214	3	=	=	NOUN
dem-11858	214	4	id&accname	id&accname	NOUN
dem-11858	214	5	=	=	SYM
dem-11858	214	6	guest&checksum	guest&checksum	NOUN
dem-11858	214	7	=	=	NOUN
dem-11858	214	8	af14f773911104f2524c88633050c373	af14f773911104f2524c88633050c373	NOUN
dem-11858	214	9	,	,	PUNCT
dem-11858	214	10	doi	doi	NOUN
dem-11858	214	11	:	:	PUNCT
dem-11858	214	12	http://	http://	PROPN
dem-11858	214	13	dx.doi.org/10.1787/435618162862	dx.doi.org/10.1787/435618162862	NOUN
dem-11858	214	14	.	.	PUNCT
dem-11858	215	1	buiter	buiter	PROPN
dem-11858	215	2	,	,	PUNCT
dem-11858	215	3	w.	w.	PROPN
dem-11858	215	4	h.	h.	PROPN
dem-11858	215	5	(	(	PUNCT
dem-11858	215	6	2006	2006	NUM
dem-11858	215	7	)	)	PUNCT
dem-11858	215	8	,	,	PUNCT
dem-11858	215	9	the	the	DET
dem-11858	215	10	“	"	PUNCT
dem-11858	215	11	sense	sense	NOUN
dem-11858	215	12	and	and	CCONJ
dem-11858	215	13	nonsense	nonsense	NOUN
dem-11858	215	14	of	of	ADP
dem-11858	215	15	maastricht	maastricht	PROPN
dem-11858	215	16	”	"	PUNCT
dem-11858	215	17	revisited	revisit	VERB
dem-11858	215	18	:	:	PUNCT
dem-11858	215	19	what	what	PRON
dem-11858	215	20	have	have	AUX
dem-11858	215	21	we	we	PRON
dem-11858	215	22	learnt	learn	VERB
dem-11858	215	23	about	about	ADP
dem-11858	215	24	stabilization	stabilization	NOUN
dem-11858	215	25	in	in	ADP
dem-11858	215	26	emu	emu	PROPN
dem-11858	215	27	?	?	PROPN
dem-11858	215	28	,	,	PUNCT
dem-11858	215	29	journal	journal	NOUN
dem-11858	215	30	of	of	ADP
dem-11858	215	31	common	common	ADJ
dem-11858	215	32	market	market	NOUN
dem-11858	215	33	studies	study	NOUN
dem-11858	215	34	,	,	PUNCT
dem-11858	215	35	44(4	44(4	NOUN
dem-11858	215	36	)	)	PUNCT
dem-11858	215	37	,	,	PUNCT
dem-11858	215	38	687710	687710	NOUN
dem-11858	215	39	,	,	PUNCT
dem-11858	215	40	doi	doi	NOUN
dem-11858	215	41	:	:	PUNCT
dem-11858	215	42	http://dx.doi.org/10.1111/j.1468-5965.2006.00658.x	http://dx.doi.org/10.1111/j.1468-5965.2006.00658.x	ADJ
dem-11858	215	43	.	.	PUNCT
dem-11858	215	44	dańska	dańska	PROPN
dem-11858	215	45	-	-	PUNCT
dem-11858	215	46	borsiak	borsiak	PROPN
dem-11858	215	47	,	,	PUNCT
dem-11858	215	48	b.	b.	PROPN
dem-11858	215	49	(	(	PUNCT
dem-11858	215	50	2011	2011	NUM
dem-11858	215	51	)	)	PUNCT
dem-11858	215	52	,	,	PUNCT
dem-11858	215	53	dynamiczne	dynamiczne	PROPN
dem-11858	215	54	modele	modele	PROPN
dem-11858	215	55	panelowe	panelowe	PROPN
dem-11858	215	56	w	w	PROPN
dem-11858	215	57	badaniach	badaniach	ADJ
dem-11858	215	58	ekonomicznych	ekonomicznych	NOUN
dem-11858	215	59	(	(	PUNCT
dem-11858	215	60	dynamic	dynamic	ADJ
dem-11858	215	61	panel	panel	NOUN
dem-11858	215	62	models	model	NOUN
dem-11858	215	63	in	in	ADP
dem-11858	215	64	economic	economic	ADJ
dem-11858	215	65	research	research	NOUN
dem-11858	215	66	)	)	PUNCT
dem-11858	215	67	,	,	PUNCT
dem-11858	215	68	wydawnictwo	wydawnictwo	PROPN
dem-11858	215	69	uniwersytetu	uniwersytetu	NOUN
dem-11858	215	70	łódzkiego	łódzkiego	PROPN
dem-11858	215	71	,	,	PUNCT
dem-11858	215	72	łódź	łódź	PROPN
dem-11858	215	73	.	.	PROPN
dem-11858	215	74	hull	hull	PROPN
dem-11858	215	75	,	,	PUNCT
dem-11858	215	76	j.	j.	PROPN
dem-11858	215	77	(	(	PUNCT
dem-11858	215	78	2011	2011	NUM
dem-11858	215	79	)	)	PUNCT
dem-11858	215	80	,	,	PUNCT
dem-11858	215	81	zarządzanie	zarządzanie	PROPN
dem-11858	215	82	ryzykiem	ryzykiem	VERB
dem-11858	215	83	instytucji	instytucji	ADJ
dem-11858	215	84	finansowych	finansowych	NOUN
dem-11858	215	85	(	(	PUNCT
dem-11858	215	86	risk	risk	NOUN
dem-11858	215	87	management	management	NOUN
dem-11858	215	88	of	of	ADP
dem-11858	215	89	financial	financial	ADJ
dem-11858	215	90	institutions	institution	NOUN
dem-11858	215	91	)	)	PUNCT
dem-11858	215	92	,	,	PUNCT
dem-11858	215	93	pwn	pwn	PROPN
dem-11858	215	94	,	,	PUNCT
dem-11858	215	95	warszawa	warszawa	PROPN
dem-11858	215	96	.	.	PUNCT
dem-11858	216	1	klepsch	klepsch	PROPN
dem-11858	216	2	,	,	PUNCT
dem-11858	216	3	c.	c.	PROPN
dem-11858	216	4	,	,	PUNCT
dem-11858	216	5	wollmershauser	wollmershauser	NOUN
dem-11858	216	6	,	,	PUNCT
dem-11858	216	7	t.	t.	PROPN
dem-11858	216	8	(	(	PUNCT
dem-11858	216	9	2011	2011	NUM
dem-11858	216	10	)	)	PUNCT
dem-11858	216	11	,	,	PUNCT
dem-11858	216	12	yield	yield	VERB
dem-11858	216	13	spreads	spread	NOUN
dem-11858	216	14	on	on	ADP
dem-11858	216	15	emu	emu	PROPN
dem-11858	216	16	government	government	NOUN
dem-11858	216	17	bonds	bond	VERB
dem-11858	216	18	how	how	SCONJ
dem-11858	216	19	the	the	DET
dem-11858	216	20	financial	financial	ADJ
dem-11858	216	21	crisis	crisis	NOUN
dem-11858	216	22	has	have	AUX
dem-11858	216	23	helped	help	VERB
dem-11858	216	24	investors	investor	NOUN
dem-11858	216	25	to	to	PART
dem-11858	216	26	rediscover	rediscover	VERB
dem-11858	216	27	risk	risk	NOUN
dem-11858	216	28	,	,	PUNCT
dem-11858	216	29	economic	economic	ADJ
dem-11858	216	30	trends	trend	NOUN
dem-11858	216	31	,	,	PUNCT
dem-11858	216	32	46(3	46(3	NOUN
dem-11858	216	33	)	)	PUNCT
dem-11858	216	34	,	,	PUNCT
dem-11858	216	35	169176	169176	NOUN
dem-11858	216	36	,	,	PUNCT
dem-11858	216	37	doi	doi	NOUN
dem-11858	216	38	:	:	PUNCT
dem-11858	216	39	http://dx.doi.org/10.1007/s10272-011-0379-2	http://dx.doi.org/10.1007/s10272-011-0379-2	X
dem-11858	216	40	.	.	PUNCT
dem-11858	217	1	http://dx.doi.org/10.2139/ssrn.2223140	http://dx.doi.org/10.2139/ssrn.2223140	PUNCT
dem-11858	217	2	http://dx.doi.org/10.1111/j.1468-5965.2006.00658.x	http://dx.doi.org/10.1111/j.1468-5965.2006.00658.x	ADJ
dem-11858	217	3	http://dx.doi.org/10.1007/s10272-011-0379-2	http://dx.doi.org/10.1007/s10272-011-0379-2	NOUN
dem-11858	217	4	the	the	DET
dem-11858	217	5	share	share	NOUN
dem-11858	217	6	of	of	ADP
dem-11858	217	7	european	european	ADJ
dem-11858	217	8	economies	economy	NOUN
dem-11858	217	9	in	in	ADP
dem-11858	217	10	the	the	DET
dem-11858	217	11	process	process	NOUN
dem-11858	217	12	of	of	ADP
dem-11858	217	13	convergence	convergence	NOUN
dem-11858	217	14	…	…	SYM
dem-11858	217	15	dynamic	dynamic	ADJ
dem-11858	217	16	econometric	econometric	ADJ
dem-11858	217	17	models	model	NOUN
dem-11858	217	18	16	16	NUM
dem-11858	217	19	(	(	PUNCT
dem-11858	217	20	2016	2016	NUM
dem-11858	217	21	)	)	PUNCT
dem-11858	217	22	165–187	165–187	NUM
dem-11858	217	23	187	187	NUM
dem-11858	217	24	lane	lane	NOUN
dem-11858	217	25	,	,	PUNCT
dem-11858	217	26	p.	p.	PROPN
dem-11858	217	27	r.	r.	PROPN
dem-11858	217	28	(	(	PUNCT
dem-11858	217	29	2012	2012	NUM
dem-11858	217	30	)	)	PUNCT
dem-11858	217	31	,	,	PUNCT
dem-11858	217	32	the	the	DET
dem-11858	217	33	european	european	ADJ
dem-11858	217	34	sovereign	sovereign	ADJ
dem-11858	217	35	debt	debt	NOUN
dem-11858	217	36	crisis	crisis	NOUN
dem-11858	217	37	,	,	PUNCT
dem-11858	217	38	journal	journal	NOUN
dem-11858	217	39	of	of	ADP
dem-11858	217	40	economic	economic	ADJ
dem-11858	217	41	perspectives	perspective	NOUN
dem-11858	217	42	,	,	PUNCT
dem-11858	217	43	4968	4968	NUM
dem-11858	217	44	,	,	PUNCT
dem-11858	217	45	doi	doi	NOUN
dem-11858	217	46	:	:	PUNCT
dem-11858	217	47	http://dx.doi.org/10.1257/jep.26.3.49	http://dx.doi.org/10.1257/jep.26.3.49	PROPN
dem-11858	217	48	.	.	PUNCT
dem-11858	217	49	marchewka	marchewka	NOUN
dem-11858	217	50	-	-	PUNCT
dem-11858	217	51	bartkowiak	bartkowiak	NOUN
dem-11858	217	52	,	,	PUNCT
dem-11858	217	53	k.	k.	PROPN
dem-11858	217	54	(	(	PUNCT
dem-11858	217	55	2008	2008	NUM
dem-11858	217	56	)	)	PUNCT
dem-11858	217	57	,	,	PUNCT
dem-11858	217	58	zarządzanie	zarządzanie	PROPN
dem-11858	217	59	długiem	długiem	PROPN
dem-11858	217	60	publicznym	publicznym	NOUN
dem-11858	217	61	.	.	PUNCT
dem-11858	218	1	teoria	teoria	INTJ
dem-11858	218	2	i	i	PRON
dem-11858	218	3	praktyka	praktyka	VERB
dem-11858	218	4	państw	państw	PROPN
dem-11858	218	5	unii	unii	PROPN
dem-11858	218	6	europejskiej	europejskiej	PROPN
dem-11858	218	7	(	(	PUNCT
dem-11858	218	8	management	management	NOUN
dem-11858	218	9	of	of	ADP
dem-11858	218	10	public	public	ADJ
dem-11858	218	11	debt	debt	NOUN
dem-11858	218	12	.	.	PUNCT
dem-11858	219	1	theory	theory	NOUN
dem-11858	219	2	and	and	CCONJ
dem-11858	219	3	practice	practice	NOUN
dem-11858	219	4	of	of	ADP
dem-11858	219	5	the	the	DET
dem-11858	219	6	eu	eu	PROPN
dem-11858	219	7	countries	country	NOUN
dem-11858	219	8	)	)	PUNCT
dem-11858	219	9	,	,	PUNCT
dem-11858	219	10	pwn	pwn	PROPN
dem-11858	219	11	,	,	PUNCT
dem-11858	219	12	warszawa	warszawa	PROPN
dem-11858	219	13	.	.	PUNCT
dem-11858	220	1	nowak	nowak	PROPN
dem-11858	220	2	,	,	PUNCT
dem-11858	220	3	w.	w.	PROPN
dem-11858	220	4	(	(	PUNCT
dem-11858	220	5	2007	2007	NUM
dem-11858	220	6	)	)	PUNCT
dem-11858	220	7	konwergencja	konwergencja	PROPN
dem-11858	220	8	w	w	PROPN
dem-11858	220	9	modelach	modelach	PROPN
dem-11858	220	10	endogenicznego	endogenicznego	PROPN
dem-11858	220	11	wzrostu	wzrostu	PROPN
dem-11858	220	12	gospodarczego	gospodarczego	NOUN
dem-11858	220	13	(	(	PUNCT
dem-11858	220	14	convergence	convergence	NOUN
dem-11858	220	15	in	in	ADP
dem-11858	220	16	the	the	DET
dem-11858	220	17	models	model	NOUN
dem-11858	220	18	of	of	ADP
dem-11858	220	19	endogenous	endogenous	ADJ
dem-11858	220	20	growth	growth	NOUN
dem-11858	220	21	)	)	PUNCT
dem-11858	220	22	,	,	PUNCT
dem-11858	220	23	kolonia	kolonia	PROPN
dem-11858	220	24	limited	limit	VERB
dem-11858	220	25	,	,	PUNCT
dem-11858	220	26	wrocław	wrocław	ADJ
dem-11858	220	27	.	.	PUNCT
dem-11858	221	1	pagano	pagano	PROPN
dem-11858	221	2	,	,	PUNCT
dem-11858	221	3	m.	m.	NOUN
dem-11858	221	4	,	,	PUNCT
dem-11858	221	5	von	von	PROPN
dem-11858	221	6	thadden	thadden	PROPN
dem-11858	221	7	,	,	PUNCT
dem-11858	221	8	e.	e.	PROPN
dem-11858	221	9	l.	l.	PROPN
dem-11858	221	10	(	(	PUNCT
dem-11858	221	11	2004	2004	NUM
dem-11858	221	12	)	)	PUNCT
dem-11858	221	13	,	,	PUNCT
dem-11858	221	14	the	the	DET
dem-11858	221	15	european	european	ADJ
dem-11858	221	16	bond	bond	NOUN
dem-11858	221	17	markets	market	NOUN
dem-11858	221	18	under	under	ADP
dem-11858	221	19	emu	emu	PROPN
dem-11858	221	20	,	,	PUNCT
dem-11858	221	21	oxford	oxford	PROPN
dem-11858	221	22	review	review	NOUN
dem-11858	221	23	of	of	ADP
dem-11858	221	24	economic	economic	ADJ
dem-11858	221	25	policy	policy	NOUN
dem-11858	221	26	,	,	PUNCT
dem-11858	221	27	20(4	20(4	NOUN
dem-11858	221	28	)	)	PUNCT
dem-11858	221	29	,	,	PUNCT
dem-11858	221	30	531554	531554	NUM
dem-11858	221	31	,	,	PUNCT
dem-11858	221	32	doi	doi	NOUN
dem-11858	221	33	:	:	PUNCT
dem-11858	221	34	http://dx.doi.org/10.1093/oxrep/grh031	http://dx.doi.org/10.1093/oxrep/grh031	NOUN
dem-11858	221	35	.	.	PUNCT
dem-11858	222	1	pełka	pełka	PROPN
dem-11858	222	2	,	,	PUNCT
dem-11858	222	3	w.	w.	NOUN
dem-11858	222	4	(	(	PUNCT
dem-11858	222	5	2008	2008	NUM
dem-11858	222	6	)	)	PUNCT
dem-11858	222	7	,	,	PUNCT
dem-11858	222	8	konwergencja	konwergencja	PROPN
dem-11858	222	9	monetarna	monetarna	PROPN
dem-11858	222	10	jako	jako	PROPN
dem-11858	222	11	warunek	warunek	PROPN
dem-11858	222	12	wzrostu	wzrostu	PROPN
dem-11858	222	13	gospodarczego	gospodarczego	PROPN
dem-11858	222	14	w	w	PROPN
dem-11858	222	15	nowych	nowych	PROPN
dem-11858	222	16	krajach	krajach	PROPN
dem-11858	222	17	członkowskich	członkowskich	PROPN
dem-11858	222	18	unii	unii	PROPN
dem-11858	222	19	europejskiej	europejskiej	PROPN
dem-11858	222	20	(	(	PUNCT
dem-11858	222	21	monetary	monetary	ADJ
dem-11858	222	22	convergence	convergence	NOUN
dem-11858	222	23	as	as	ADP
dem-11858	222	24	a	a	DET
dem-11858	222	25	condition	condition	NOUN
dem-11858	222	26	for	for	ADP
dem-11858	222	27	economic	economic	ADJ
dem-11858	222	28	growth	growth	NOUN
dem-11858	222	29	in	in	ADP
dem-11858	222	30	the	the	DET
dem-11858	222	31	new	new	ADJ
dem-11858	222	32	member	member	NOUN
dem-11858	222	33	countries	country	NOUN
dem-11858	222	34	the	the	DET
dem-11858	222	35	european	european	PROPN
dem-11858	222	36	union	union	PROPN
dem-11858	222	37	)	)	PUNCT
dem-11858	222	38	,	,	PUNCT
dem-11858	222	39	in	in	ADP
dem-11858	222	40	pancercybulska	pancercybulska	PROPN
dem-11858	222	41	e.	e.	PROPN
dem-11858	222	42	(	(	PUNCT
dem-11858	222	43	ed	ed	NOUN
dem-11858	222	44	.	.	PUNCT
dem-11858	222	45	)	)	PUNCT
dem-11858	222	46	,	,	PUNCT
dem-11858	222	47	spójność	spójność	NOUN
dem-11858	222	48	społeczna	społeczna	PROPN
dem-11858	222	49	,	,	PUNCT
dem-11858	222	50	gospodarcza	gospodarcza	PROPN
dem-11858	222	51	i	i	PROPN
dem-11858	222	52	terytorialna	terytorialna	PROPN
dem-11858	222	53	w	w	PROPN
dem-11858	222	54	polityce	polityce	PROPN
dem-11858	222	55	unii	unii	PROPN
dem-11858	222	56	europejskiej	europejskiej	PROPN
dem-11858	222	57	(	(	PUNCT
dem-11858	222	58	social	social	ADJ
dem-11858	222	59	,	,	PUNCT
dem-11858	222	60	economic	economic	ADJ
dem-11858	222	61	and	and	CCONJ
dem-11858	222	62	territorial	territorial	ADJ
dem-11858	222	63	cohesion	cohesion	NOUN
dem-11858	222	64	in	in	ADP
dem-11858	222	65	the	the	DET
dem-11858	222	66	european	european	PROPN
dem-11858	222	67	union	union	PROPN
dem-11858	222	68	policy	policy	PROPN
dem-11858	222	69	)	)	PUNCT
dem-11858	222	70	,	,	PUNCT
dem-11858	222	71	wydawnictwo	wydawnictwo	PROPN
dem-11858	222	72	uniwersytetu	uniwersytetu	ADJ
dem-11858	222	73	ekonomicznego	ekonomicznego	PROPN
dem-11858	222	74	,	,	PUNCT
dem-11858	222	75	wrocław	wrocław	ADJ
dem-11858	222	76	,	,	PUNCT
dem-11858	222	77	270289	270289	NUM
dem-11858	222	78	.	.	PUNCT
dem-11858	223	1	suchecki	suchecki	PROPN
dem-11858	223	2	,	,	PUNCT
dem-11858	223	3	b.	b.	PROPN
dem-11858	223	4	(	(	PUNCT
dem-11858	223	5	ed	ed	NOUN
dem-11858	223	6	.	.	PUNCT
dem-11858	223	7	)	)	PUNCT
dem-11858	224	1	(	(	PUNCT
dem-11858	224	2	2012	2012	NUM
dem-11858	224	3	)	)	PUNCT
dem-11858	224	4	,	,	PUNCT
dem-11858	224	5	ekonometria	ekonometria	PROPN
dem-11858	224	6	przestrzenna	przestrzenna	PROPN
dem-11858	224	7	ii	ii	PROPN
dem-11858	224	8	.	.	PUNCT
dem-11858	225	1	modele	modele	PROPN
dem-11858	225	2	zaawansowane	zaawansowane	PROPN
dem-11858	225	3	(	(	PUNCT
dem-11858	225	4	spatial	spatial	ADJ
dem-11858	225	5	econometrics	econometrics	PROPN
dem-11858	225	6	ii	ii	PROPN
dem-11858	225	7	.	.	PUNCT
dem-11858	226	1	advanced	advanced	ADJ
dem-11858	226	2	models	model	NOUN
dem-11858	226	3	)	)	PUNCT
dem-11858	226	4	,	,	PUNCT
dem-11858	226	5	wydawnictwo	wydawnictwo	PROPN
dem-11858	226	6	c.h.beck	c.h.beck	PROPN
dem-11858	226	7	,	,	PUNCT
dem-11858	226	8	warszawa	warszawa	PROPN
dem-11858	226	9	.	.	PUNCT
dem-11858	226	10	szulc	szulc	PROPN
dem-11858	226	11	,	,	PUNCT
dem-11858	226	12	e.	e.	PROPN
dem-11858	226	13	,	,	PUNCT
dem-11858	226	14	wleklińska	wleklińska	INTJ
dem-11858	226	15	,	,	PUNCT
dem-11858	226	16	d.	d.	PROPN
dem-11858	226	17	,	,	PUNCT
dem-11858	226	18	górna	górna	PROPN
dem-11858	226	19	,	,	PUNCT
dem-11858	226	20	k.	k.	PROPN
dem-11858	226	21	,	,	PUNCT
dem-11858	226	22	górna	górna	PROPN
dem-11858	226	23	,	,	PUNCT
dem-11858	226	24	j.	j.	PROPN
dem-11858	226	25	(	(	PUNCT
dem-11858	226	26	2014	2014	NUM
dem-11858	226	27	)	)	PUNCT
dem-11858	226	28	,	,	PUNCT
dem-11858	226	29	the	the	DET
dem-11858	226	30	significance	significance	NOUN
dem-11858	226	31	of	of	ADP
dem-11858	226	32	distance	distance	NOUN
dem-11858	226	33	between	between	ADP
dem-11858	226	34	stock	stock	NOUN
dem-11858	226	35	exchanges	exchange	NOUN
dem-11858	226	36	undergoing	undergo	VERB
dem-11858	226	37	the	the	DET
dem-11858	226	38	process	process	NOUN
dem-11858	226	39	of	of	ADP
dem-11858	226	40	convergence	convergence	NOUN
dem-11858	226	41	:	:	PUNCT
dem-11858	226	42	an	an	DET
dem-11858	226	43	analysis	analysis	NOUN
dem-11858	226	44	of	of	ADP
dem-11858	226	45	selected	select	VERB
dem-11858	226	46	world	world	NOUN
dem-11858	226	47	stock	stock	NOUN
dem-11858	226	48	exchanges	exchange	NOUN
dem-11858	226	49	during	during	ADP
dem-11858	226	50	the	the	DET
dem-11858	226	51	period	period	NOUN
dem-11858	226	52	of	of	ADP
dem-11858	226	53	2004	2004	NUM
dem-11858	226	54	-	-	SYM
dem-11858	226	55	2012	2012	NUM
dem-11858	226	56	,	,	PUNCT
dem-11858	226	57	dynamic	dynamic	ADJ
dem-11858	226	58	econometric	econometric	ADJ
dem-11858	226	59	models	model	NOUN
dem-11858	226	60	,	,	PUNCT
dem-11858	226	61	14	14	NUM
dem-11858	226	62	,	,	PUNCT
dem-11858	226	63	125–144	125–144	NUM
dem-11858	226	64	,	,	PUNCT
dem-11858	226	65	doi	doi	NOUN
dem-11858	226	66	:	:	PUNCT
dem-11858	226	67	http://dx.doi.org/10.12775/dem.2014.007	http://dx.doi.org/10.12775/dem.2014.007	ADJ
dem-11858	226	68	.	.	PUNCT
dem-11858	227	1	szulc	szulc	PROPN
dem-11858	227	2	,	,	PUNCT
dem-11858	227	3	e.	e.	PROPN
dem-11858	227	4	,	,	PUNCT
dem-11858	227	5	wleklińska	wleklińska	INTJ
dem-11858	227	6	,	,	PUNCT
dem-11858	227	7	d.	d.	PROPN
dem-11858	227	8	(	(	PUNCT
dem-11858	227	9	2015	2015	NUM
dem-11858	227	10	)	)	PUNCT
dem-11858	227	11	,	,	PUNCT
dem-11858	227	12	spatio	spatio	NOUN
dem-11858	227	13	-	-	PUNCT
dem-11858	227	14	temporal	temporal	ADJ
dem-11858	227	15	analysis	analysis	NOUN
dem-11858	227	16	of	of	ADP
dem-11858	227	17	convergence	convergence	NOUN
dem-11858	227	18	of	of	ADP
dem-11858	227	19	development	development	NOUN
dem-11858	227	20	level	level	NOUN
dem-11858	227	21	of	of	ADP
dem-11858	227	22	selected	select	VERB
dem-11858	227	23	stock	stock	NOUN
dem-11858	227	24	exchanges	exchange	NOUN
dem-11858	227	25	in	in	ADP
dem-11858	227	26	the	the	DET
dem-11858	227	27	period	period	NOUN
dem-11858	227	28	of	of	ADP
dem-11858	227	29	2004–2012	2004–2012	NUM
dem-11858	227	30	,	,	PUNCT
dem-11858	227	31	dynamic	dynamic	ADJ
dem-11858	227	32	econometrics	econometrics	NOUN
dem-11858	227	33	models	model	NOUN
dem-11858	227	34	,	,	PUNCT
dem-11858	227	35	15	15	NUM
dem-11858	227	36	,	,	PUNCT
dem-11858	227	37	526	526	NUM
dem-11858	227	38	,	,	PUNCT
dem-11858	227	39	doi	doi	NOUN
dem-11858	227	40	:	:	PUNCT
dem-11858	227	41	http://dx.doi.org/10.12775/dem.2015.001	http://dx.doi.org/10.12775/dem.2015.001	NOUN
dem-11858	227	42	.	.	PUNCT
dem-11858	228	1	udział	udział	PROPN
dem-11858	228	2	gospodarek	gospodarek	PROPN
dem-11858	228	3	europejskich	europejskich	DET
dem-11858	228	4	w	w	PROPN
dem-11858	228	5	procesie	procesie	PROPN
dem-11858	228	6	zbieżności	zbieżności	PROPN
dem-11858	228	7	długoterminowych	długoterminowych	PROPN
dem-11858	228	8	stóp	stóp	NOUN
dem-11858	228	9	procentowych	procentowych	PROPN
dem-11858	228	10	w	w	PROPN
dem-11858	228	11	ue	ue	PROPN
dem-11858	228	12	w	w	PROPN
dem-11858	228	13	okresie	okresie	NOUN
dem-11858	228	14	2006–2016	2006–2016	NUM
dem-11858	228	15	z	z	NOUN
dem-11858	228	16	a	a	DET
dem-11858	228	17	r	r	NOUN
dem-11858	228	18	y	y	PROPN
dem-11858	228	19	s	s	PROPN
dem-11858	228	20	t	t	NOUN
dem-11858	228	21	r	r	NOUN
dem-11858	228	22	e	e	PROPN
dem-11858	228	23	ś	ś	PROPN
dem-11858	228	24	c	c	PROPN
dem-11858	228	25	i.	i.	PROPN
dem-11858	228	26	artykuł	artykuł	PROPN
dem-11858	228	27	dotyczy	dotyczy	PROPN
dem-11858	228	28	procesu	procesu	PROPN
dem-11858	228	29	zbieżności	zbieżności	PROPN
dem-11858	228	30	stóp	stóp	NOUN
dem-11858	228	31	procentowych	procentowych	NOUN
dem-11858	228	32	dziesięcioletnich	dziesięcioletnich	ADJ
dem-11858	228	33	obligacji	obligacji	INTJ
dem-11858	228	34	skarbowych	skarbowych	VERB
dem-11858	228	35	krajów	krajów	PROPN
dem-11858	228	36	ue	ue	PROPN
dem-11858	228	37	.	.	PROPN
dem-11858	228	38	stanowi	stanowi	PROPN
dem-11858	228	39	on	on	ADP
dem-11858	228	40	próbę	próbę	PROPN
dem-11858	228	41	oceny	oceny	VERB
dem-11858	228	42	udziału	udziału	PROPN
dem-11858	228	43	poszczególnych	poszczególnych	PROPN
dem-11858	228	44	gospodarek	gospodarek	NOUN
dem-11858	228	45	europejskich	europejskich	PRON
dem-11858	228	46	w	w	PROPN
dem-11858	228	47	tym	tym	NOUN
dem-11858	228	48	procesie	procesie	PROPN
dem-11858	228	49	z	z	PROPN
dem-11858	228	50	wykorzystaniem	wykorzystaniem	PROPN
dem-11858	228	51	koncepcji	koncepcji	PROPN
dem-11858	228	52	tzw	tzw	PROPN
dem-11858	228	53	.	.	PUNCT
dem-11858	229	1	konwergencji	konwergencji	PROPN
dem-11858	229	2	pionowej	pionowej	PROPN
dem-11858	229	3	.	.	PROPN
dem-11858	229	4	podstawowym	podstawowym	PROPN
dem-11858	229	5	narzędziem	narzędziem	PROPN
dem-11858	229	6	analizy	analizy	PROPN
dem-11858	229	7	były	były	PROPN
dem-11858	229	8	modele	modele	PROPN
dem-11858	229	9	panelowe	panelowe	PROPN
dem-11858	229	10	z	z	PROPN
dem-11858	229	11	ustalonymi	ustalonymi	ADJ
dem-11858	229	12	efektami	efektami	NOUN
dem-11858	229	13	,	,	PUNCT
dem-11858	229	14	w	w	PROPN
dem-11858	229	15	tym	tym	PROPN
dem-11858	229	16	modele	modele	PROPN
dem-11858	229	17	uwzględniające	uwzględniające	PROPN
dem-11858	229	18	powiązania	powiązania	PROPN
dem-11858	229	19	między	między	ADJ
dem-11858	229	20	gospodarkami	gospodarkami	NOUN
dem-11858	229	21	,	,	PUNCT
dem-11858	229	22	kwantyfikowane	kwantyfikowane	PROPN
dem-11858	229	23	za	za	PROPN
dem-11858	229	24	pomocą	pomocą	PROPN
dem-11858	229	25	macierzy	macierzy	PROPN
dem-11858	229	26	odległości	odległości	PROPN
dem-11858	229	27	między	między	PROPN
dem-11858	229	28	wskaźnikami	wskaźnikami	PROPN
dem-11858	229	29	stabilności	stabilności	PROPN
dem-11858	229	30	fiskalnej	fiskalnej	PROPN
dem-11858	229	31	,	,	PUNCT
dem-11858	229	32	jako	jako	PROPN
dem-11858	229	33	udział	udział	PROPN
dem-11858	229	34	długu	długu	PROPN
dem-11858	229	35	publicznego	publicznego	PROPN
dem-11858	229	36	w	w	PROPN
dem-11858	229	37	pkb	pkb	PROPN
dem-11858	229	38	.	.	PUNCT
dem-11858	230	1	analizę	analizę	PROPN
dem-11858	230	2	przeprowadzono	przeprowadzono	PROPN
dem-11858	230	3	dla	dla	PROPN
dem-11858	230	4	27	27	NUM
dem-11858	230	5	krajów	krajów	PROPN
dem-11858	230	6	członkowskich	członkowskich	PROPN
dem-11858	230	7	ue	ue	PROPN
dem-11858	231	1	w	w	PROPN
dem-11858	231	2	okresie	okresie	ADJ
dem-11858	231	3	styczeń	styczeń	PROPN
dem-11858	231	4	2006	2006	NUM
dem-11858	231	5	–	–	PUNCT
dem-11858	231	6	listopad	listopad	NOUN
dem-11858	231	7	2016	2016	NUM
dem-11858	231	8	.	.	PUNCT
dem-11858	232	1	s	s	PART
dem-11858	232	2	ł	ł	PROPN
dem-11858	232	3	o	o	X
dem-11858	232	4	w	w	NOUN
dem-11858	232	5	a	a	DET
dem-11858	232	6	k	k	X
dem-11858	232	7	l	l	NOUN
dem-11858	232	8	u	u	NOUN
dem-11858	233	1	c	c	NOUN
dem-11858	233	2	z	z	NOUN
dem-11858	233	3	o	o	X
dem-11858	233	4	w	w	PROPN
dem-11858	234	1	e	e	NOUN
dem-11858	234	2	:	:	PUNCT
dem-11858	234	3	długoterminowe	długoterminowe	NOUN
dem-11858	234	4	stopy	stopy	NOUN
dem-11858	234	5	procentowe	procentowe	PROPN
dem-11858	234	6	,	,	PUNCT
dem-11858	234	7	proces	proces	PROPN
dem-11858	234	8	zbieżności	zbieżności	PROPN
dem-11858	234	9	,	,	PUNCT
dem-11858	234	10	stabilność	stabilność	NOUN
dem-11858	234	11	fiskalna	fiskalna	PROPN
dem-11858	234	12	,	,	PUNCT
dem-11858	234	13	modele	modele	PROPN
dem-11858	234	14	panelowe	panelowe	PROPN
dem-11858	234	15	,	,	PUNCT
dem-11858	234	16	macierz	macierz	VERB
dem-11858	234	17	powiązań	powiązań	NOUN
dem-11858	234	18	ekonomicznych	ekonomicznych	NOUN
dem-11858	234	19	.	.	PUNCT
dem-11858	234	20	http://dx.doi.org/10.1257/jep.26.3.49	http://dx.doi.org/10.1257/jep.26.3.49	PUNCT