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The Life of Australian Banknotes

Author

Listed:
  • Alexandra Rush

    (Reserve Bank of Australia)

Abstract

An assessment of the likely life of a banknote is an important input to a currency issuer’s planning. Without accurate predictions of banknote life, there is the potential to incur the economic costs of producing and storing excess banknotes or, conversely, in an extreme case, of not being able to meet the public’s demand. The life of a banknote, however, is not directly observed and must be estimated. This article discusses some traditional measures of banknote life and provides some alternative estimates using ‘survival’ modelling.

Suggested Citation

  • Alexandra Rush, 2015. "The Life of Australian Banknotes," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 55-62, September.
    • Handle: RePEc:rba:rbabul:sep2015-07
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2015/sep/pdf/bu-0915-7.pdf
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    References listed on IDEAS

    as
    1. Feige, Edgar L., 1989. "Currency Velocity and cash payments in the U.S. Economy: The Currency Enigma," MPRA Paper 13807, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Richard Finlay & Andrew Staib & Max Wakefield, 2018. "Where's the Money‽ An Investigation into the Whereabouts and Uses of Australian Banknotes," RBA Research Discussion Papers rdp2018-12, Reserve Bank of Australia.

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