Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/88202
Authors: 
Bartzsch, Nikolaus
Rösl, Gerhard
Seitz, Franz
Year of Publication: 
2011
Series/Report no.: 
ROME Discussion Paper Series 11-05
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%).
Subjects: 
Banknotes
euro
foreign demand
hoarding
transaction balances
JEL: 
E41
E42
E58
Document Type: 
Working Paper

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