A simple way to capture currency abroad
In this article, we analyse the volume of euro banknotes issued by Germany that circulate abroad. Inferences are drawn from a coin model. Our approach suggests that foreign demand has increased since 2002. At the end of 2009 nearly 50%, the equivalent of €170 billion, is held outside the euro area.
Volume (Year): 19 (2012)
Issue (Month): 15 (October)
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