The main focus of this paper is to model the daily series of banknotes in circulation in the context of the liquidity management of the Eurosystem. The series of banknotes in circulation displays very marked seasonal patterns. To the best of our knowledge the empirical performance of two...

El principal objeto de este estudio es el de modelizar la serie diaria de billetes en circulacion dentro del ambito de la gestion de la liquidez del Eurosistema. La serie de billetes en circulacion exhibe un marcado patron estacional. Con el fin de mejorar el conocimiento empirico de esta serie,...

This paper estimates a single-equation model to analyse the main explanatory factors behind changes in Spanish household credit, considering that the behaviour of its determinants is exogenous. According to the evidence reported, household borrowing is determined in the long run by real...