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Currency movements within and outside a currency union : the case of Germany and the euro area /Nikolaus Bartzsch, Gerhard Rösl and Franz Seitz
Bartzsch, Nikolaus; Rösl, Gerhard; Seitz, Franz - 2011
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 …
Persistent link: https://www.econbiz.de/10010209428
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The volume of euro coins held for transaction purposes in Germany
Altmann, Markus; Bartzsch, Nikolaus - 2014
According to estimates using the seasonal method, the volume of euro coins held for transaction purposes in Germany in …
Persistent link: https://www.econbiz.de/10010429759
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Regionalwährungen in Deutschland : Lokale Konkurrenz Für Den Euro?
Rösl, Gerhard - 2016
In a surprisingly growing number of regions in Germany private "regional currencies" are issued as a cash substitute … fundamentally new phenomenon neither in Germany nor in other European countries. The theoretical assumptions of the Schwundgeld …
Persistent link: https://www.econbiz.de/10012991160
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Coin migration between Germany and other euro area countries
Uhl, Matthias - 2020
that, for the coin denominations €2, €1, 50 cent and 20 cent roughly the same quantity of euro coins migrate from Germany … Republic of Germany are not materially explained by exports of coins to other euro area countries. …
Persistent link: https://www.econbiz.de/10012272025
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Domestic and foreign demand for euro banknotes issued in Germany
Bartzsch, Nikolaus; Uhl, Matthias - 2017
, around 65% to 70% of the arithmetical volume of euro banknotes issued by the Bundesbank were in circulation outside Germany … in Germany, of which 25 percentage points were hoarded and 5 to 10 percentage points held for transaction purposes. The …
Persistent link: https://www.econbiz.de/10011731481
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Monetary aggregates to improve early output gap estimates in the euro area -- an empirical assessment
Boysen-Hogrefe, Jens - 2014
Output gap estimates at the current edge are subject to severe revisions. This study analyzes whether monetary aggregates can be used to improve the reliability of early output gap estimates as proposed by several theoretical models. A real-time experiment shows that real M1 can improve output...
Persistent link: https://www.econbiz.de/10010248220
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Heterogeneity in money holdings across euro area countries : the role of housing
Setzer, Ralph; Noord, Paul Joseph van den; Wolff, Guntram B. - 2010
In this paper we examine why monetary aggregates of euro area Member States have developed differently since the inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution effects on real money holdings. Empirically, we show...
Persistent link: https://www.econbiz.de/10010208778
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Is euro area demand (still) stable? : cointegrated VAR versus single equation techniques
Belke, Ansgar; Czudaj, Robert - 2010
In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows that the current financial and economic crisis that started in 2007 does not appear to have any noticeable impact on the stability of the euro area money demand function. We also...
Persistent link: https://www.econbiz.de/10010208785
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Excess liquidity in the euro area : sources and remedies
Dąbrowski, Marek - 2023
The excess liquidity in the euro area is a product of a long period of quantitative easing. It changed the operational framework of the European Central Bank (ECB)’s monetary policy from the scarce reserves system (SRS) to the abundant reserves system (ARS). To eliminate excess liquidity and...
Persistent link: https://www.econbiz.de/10014491928
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Is euro area money demand (still) stable? : cointegrated VAR versus single equation techniques
Belke, Ansgar; Czudaj, Robert - 2010
In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows that the current financial and economic crisis that started in 2007 does not appear to have any noticeable impact on the stability of the euro area money demand function. We also...
Persistent link: https://www.econbiz.de/10003939738