A new framework for the elaboration of bill printing and coining programs
This paper presents alternative models for forecasting the demand for bills and coins of different denominations. When compared to the models often used, the root mean squared forecasting error is reduced by as much as a factor of 15. The paper also develops a new framework to formulate the printing and minting programs by using density forecasts along with information on technological constraints and preferences of the policy maker.
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- Massoud, Nadia, 2005. "How should Central Banks determine and control their bank note inventory?," Journal of Banking & Finance, Elsevier, vol. 29(12), pages 3099-3119, December.
- Kohli, Ulrich, 1988. "A note on banknote characteristics and the demand for currency by denomination," Journal of Banking & Finance, Elsevier, vol. 12(3), pages 389-399, September.
- Sargent, Thomas J & Velde, Francois R, 1999.
"The Big Problem of Small Change,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 31(2), pages 137-61, May.
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