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 …

The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment … mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union … payments, but only one for the whole Eurozone. This paper will show why the Target System is a crucial indicator for the …

The Target imbalances within the Eurozone can be interpreted as a sign of a missing balance of payments adjustment … mechanism for the member countries. As the Eurozone lacks a fiscal union, in economic theory it is more an exchange rate union … payments, but only one for the whole Eurozone. This paper will show why the Target System is a crucial indicator for the …

as those for France and Germany separately. Second, the predictive power of the core-ERM aggregate relative to French and …

" in March 1983. The empirical model investigates the determination of money, income, prices, and interest rates in Germany …