Currency movements within and outside a currency union: The case of Germany and the euro area

Franz Seitz, Gerhard Rösl and Nikolaus Bartzsch

No 30, Weidener Diskussionspapiere from University of Applied Sciences Amberg-Weiden (OTH)

Abstract: In this paper, we analyze 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-euroarea 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%).

Keywords: Banknotes; euro; foreign demand; hoarding; transaction balances (search for similar items in EconPapers)
JEL-codes: E41 E42 E58 (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-eec, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Related works:
Journal Article: Currency movements within and outside a currency union: The case of Germany and the euro area (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:hawdps:30

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