Currency movements within and outside a currency union: The case of Germany and the euro area
- In this paper, we analyse the volume of euro banknotes issued by Germany within the euro area with several seasonal methods. We draw a distinction between movements within Germany, circulation outside Germany but within the euro area and demand from non-euro-area countries. Our approach suggests that only about 20% of euro notes issued by Germany are used for transactions in Germany. The rest is hoarded (10%), circulates in other euro area countries (25%) or is held outside the euro area (45%).
Author: | Nikolaus Bartzsch, Gerhard RöslGND, Franz Seitz |
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DOI: | https://doi.org/10.1016/j.qref.2013.05.008 |
Parent Title (English): | Quarterly Review of Economics and Finance |
Publisher: | Elsevier |
Document Type: | Article |
Language: | English |
Year of first Publication: | 2013 |
Release Date: | 2022/12/03 |
Volume: | 53 |
Issue: | 4 |
First Page: | 393 |
Last Page: | 401 |
Institutes: | Fakultät Betriebswirtschaft |
research focus: | Lebenswissenschaften und Ethik |
Licence (German): | Keine Lizenz - Es gilt das deutsche Urheberrecht: § 53 UrhG |