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Der Transaktionskassenbestand von Euro-Münzen in Deutschland
[The volume of euro coins held for transaction purposes in Germany]

Author

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  • Altmann, Markus
  • Bartzsch, Nikolaus

Abstract

Der Transaktionskassenbestand von Euro-Münzen in Deutschland betrug im Jahr 2011 nach Schätzungen mit der saisonalen Methode 2,3 Mrd. €, was etwa 36 % des gesamten deutschen (von der Deutschen Bundesbank emittierten) Euro-Münzumlaufs entspricht. 76 % dieses Transaktionskassenbestandes entfiel auf die 1-Euro- und die 2-Euro-Münze. Nur bei letzterer hat die Transaktionskasse in den letzten Jahren einen nennenswerten Beitrag zur Dynamik des Umlaufs geleistet. Daher eignen sich strukturelle Modelle am besten für die Münznachfrage nach dieser Stückelung. Wegen der insgesamt schwachen Dynamik der Transaktionskassenbestände sind die Münzgeldbearbeitungskosten in den letzten Jahren ceteris paribus weniger gestiegen als der mengenmäßige Münzumlauf. Die Transaktionskassenanteile sind bei den Kleinmünzen (1-Cent- und 2-Cent-Münzen) mit unter 30 % vergleichsweise niedrig, da diese in größerem Umfang gehortet werden, um das Portemonnaie zu entlasten, oder verloren gegangen sind. Dies könnte als Argument für eine Rundungsregel (auf fünf Cent) herangezogen werden. Im Ausland befinden sich deutsche Euro-Münzen (per Saldo) vermutlich nur außerhalb des Euro-Raums, wo sie dauerhaft gehortet werden. Die inländischen sektoralen Transaktionskassenbestände können wegen der unzureichenden Datenlage nur unvollständig erfasst werden. Sie lagen im Jahr 2011 schätzungsweise zwischen 0,7 Mrd. € und 1,0 Mrd. €. Der größte Teil entfiel auf Privatpersonen und Kreditinstitute.

Suggested Citation

  • Altmann, Markus & Bartzsch, Nikolaus, 2014. "Der Transaktionskassenbestand von Euro-Münzen in Deutschland [The volume of euro coins held for transaction purposes in Germany]," MPRA Paper 59545, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:59545
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    References listed on IDEAS

    as
    1. Fischer, Björn & Köhler-Ulbrich, Petra & Seitz, Franz, 2004. "The demand for euro area currencies: past, present and future," Working Paper Series 330, European Central Bank.
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    4. Seitz Franz & Stoyan Dietrich & Tödter Karl-Heinz, 2012. "Diskussionsbeitrag / Discussion. Paper Coin: Migration and Seigniorage within the Euro Area," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 232(1), pages 84-92, February.
    5. Bartzsch, Nikolaus & Rösl, Gerhard & Seitz, Franz, 2011. "Der Auslandsumlauf deutscher Euro-Banknoten: Schätzung mit indirekten Ansätzen," Discussion Paper Series 1: Economic Studies 2011,21, Deutsche Bundesbank.
    6. Bartzsch, Nikolaus & Rösl, Gerhard & Seitz, Franz, 2011. "Foreign demand for euro banknotes issued in Germany: Estimation using direct approaches," Discussion Paper Series 1: Economic Studies 2011,20e, Deutsche Bundesbank.
    7. Seitz, Franz, 1995. "Der DM-Umlauf im Ausland," Discussion Paper Series 1: Economic Studies 1995,01, Deutsche Bundesbank.
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    Cited by:

    1. Belke Ansgar & Kronen Dominik & Osowski Thomas, 2015. "Planned Fiscal Consolidations and Growth Forecast Errors – New Panel Evidence on Fiscal Multipliers," Review of Economics, De Gruyter, vol. 66(1), pages 47-70, April.
    2. Peter Spahn, 2014. "The Bank Lending Channel in a Simple Macro Model - How to Extend the Taylor Rule?," ROME Working Papers 201409, ROME Network.
    3. Ansgar Belke & Daniel Gros, 2015. "Banking Union as a Shock Absorber," ROME Working Papers 201502, ROME Network.
    4. Uhl, Matthias, 2020. "Coin migration between Germany and other euro area countries," Discussion Papers 49/2020, Deutsche Bundesbank.
    5. Peter Spahn, 2016. "Population growth, saving, interest rates and stagnation," ROME Working Papers 201603, ROME Network.
    6. Bartzsch, Nikolaus, 2017. "Transaction balances of small denomination banknotes: findings from the introduction of ES2," International Cash Conference 2017 – War on Cash: Is there a Future for Cash? 162905, Deutsche Bundesbank.

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    More about this item

    Keywords

    Münzen; Transaktionskasse; Hortung; Auslandsumlauf; saisonale Methode; Euro-Bargeldeinführung;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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