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Demand for banknotes : linkages with the crisis
[Demande de monnaie fiduciaire : des liens avec la crise ?]

Author

Listed:
  • Martial Delmas
  • Lucas Devigne
  • Emmanuelle Politronacci
  • Ghjuvanni Torre

Abstract

The demand for banknotes in the euro area has grown faster than GDP since the creation of the euro. Yet, paradoxically, the use of cash as a means of payment is tending to decline. The increase in the demand for banknotes seems to be mainly due to an increase in precautionary demand from economic agents. La demande de monnaie fiduciaire de la zone euro affiche une croissance supérieure à celle du PIB depuis la création de l’euro. Pourtant, paradoxalement, l’usage des espèces en tant que moyen de paiement a tendance à décliner. La hausse de la demande de billets semble essentiellement due à une augmentation de la demande de précaution émanant des agents économiques.

Suggested Citation

Handle: RePEc:bfr:econot:172
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File URL: https://www.banque-france.fr/en/publications-and-statistics/publications/demand-banknotes-linkages-crisis
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File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/demande-de-monnaie-fiduciaire-des-liens-avec-la-crise
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