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Estimating the foreign circulation of banknotes

  • In this paper, we analyze the volume of Euro banknotes issued by Germany and circulating in other Euro area countries as well as outside the Euro area with a banknotes’ age model. Our approach suggests that about 60% of banknotes, the equivalent of around € 225 billion, is held abroad. Highlights ► We analyze the volume of Euro banknotes issued by Germany and circulating abroad. ► We use a model of the age of banknotes. ► The model captures demand from other Euro area countries and outside the Euro area. ► About 60% of “German” banknotes (€ 225 billion) are held abroad.

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Author:Nikolaus Bartzsch, Gerhard RöslGND, Franz Seitz
DOI:https://doi.org/10.1016/j.econlet.2013.02.017
Parent Title (English):Economics Letters
Publisher:Elsevier
Document Type:Article
Language:English
Year of first Publication:2013
Release Date:2022/12/03
Volume:119
Issue:2
First Page:165
Last Page:167
Institutes:Fakultät Betriebswirtschaft
research focus:Lebenswissenschaften und Ethik
Licence (German):Keine Lizenz - Es gilt das deutsche Urheberrecht: § 53 UrhG