Coin Migration and Seigniorage within the Euro Area
The introduction of the euro coins in 2002 presented a unique opportunity to study the crossborder migration and the mixing process of coins in different euro-area countries. This note analyses how many euro coins flow from and into Germany and which composition of coins is to be expected in the long run. A simple model of coin migration is formulated and calibrated for Q1 coins. The ratio of German coins circulating in Germany is likely to settle around 50%if past growth of coin volumes continues. In contrast to banknotes, allocation of coin seigniorage depends on national coin issuance. Different national growth rates of coin volumes have important implications for coin seigniorage.
Volume (Year): 232 (2012)
Issue (Month): 1 (January)
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- Dietrich Stoyan & Helga Stoyan & Gunter Döge, 2004. "Statistical Analyses and Modelling of the Mixing Process of Euro Coins in Germany and Europe," Australian & New Zealand Journal of Statistics, Australian Statistical Publishing Association Inc., vol. 46(1), pages 67-77, 03.
- Seitz, Franz & Stoyan, Dietrich & Tödter, Karl-Heinz, 2009. "Coin migration within the euro area," Discussion Paper Series 1: Economic Studies 2009,27, Deutsche Bundesbank, Research Centre.
- Ernst Baltensperger & Thomas J. Jordan, 1997. "Principles of Seigniorage," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 133(II), pages 133-152, June.
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