IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/59545.html
   My bibliography  Save this paper

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/59545/1/MPRA_paper_59545.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    Other versions of this item:

    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.
    2. William J. Baumol, 1952. "The Transactions Demand for Cash: An Inventory Theoretic Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 66(4), pages 545-556.
    3. 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.
    4. Goldin, Ephraim, 1985. "Statistical Analysis of Coins Lost in Circulation," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(1), pages 36-42, January.
    5. Seitz, Franz, 2007. "A simple way to capture transaction balances," Economics Letters, Elsevier, vol. 95(2), pages 230-233, May.
    6. Ruth A. Judson & Richard D. Porter, 1996. "The location of U.S. currency: how much is abroad?," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 82(Oct), pages 883-903, October.
    7. Feige, Edgar L., 2009. "New estimates of overseas U.S. currency holdings, the Underground economy and the "Tax Gap"," MPRA Paper 19564, University Library of Munich, Germany.
    8. Bartzsch, Nikolaus & Rösl, Gerhard & Seitz, Franz, 2011. "Der Auslandsumlauf deutscher Euro-Banknoten: Schätzung mit direkten Ansätzen," Discussion Paper Series 1: Economic Studies 2011,20, Deutsche Bundesbank.
    9. Feige, Edgar L., 1997. "Revised estimates of the Underground Economy: Implications of US Currency held abroad," MPRA Paper 13805, University Library of Munich, Germany.
    10. 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.
    11. Seitz, Franz, 1995. "Der DM-Umlauf im Ausland," Discussion Paper Series 1: Economic Studies 1995,01, Deutsche Bundesbank.
    12. Bartzsch, Nikolaus & Seitz, Franz & Setzer, Ralph, 2015. "The demand for euro banknotes in Germany: Structural modelling and forecasting," MPRA Paper 64949, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bartzsch, Nikolaus & Rösl, Gerhard & Seitz, Franz, 2013. "Currency movements within and outside a currency union: The case of Germany and the euro area," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(4), pages 393-401.
    2. Rua, António, 2018. "Modelling currency demand in a small open economy within a monetary union," Economic Modelling, Elsevier, vol. 74(C), pages 88-96.
    3. António Rua, 2019. "Modelling the Demand for Euro Banknotes," Working Papers w201905, Banco de Portugal, Economics and Research Department.
    4. Luca Baldo & Elisa Bonifacio & Marco Brandi & Michelina Lo Russo & Gianluca Maddaloni & Andrea Nobili & Giorgia Rocco & Gabriele Sene & Massimo Valentini, 2021. "Inside the black box: tools for understanding cash circulation," Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) 7, Bank of Italy, Directorate General for Markets and Payment System.
    5. Lalouette, Laure & Zamora-Pérez, Alejandro & Rusu, Codruta & Bartzsch, Nikolaus & Politronacci, Emmanuelle & Delmas, Martial & Rua, António & Brandi, Marco & Naksi, Martti, 2021. "Foreign demand for euro banknotes," Occasional Paper Series 253, European Central Bank.
    6. Nikolaus Bartzsch & Gerhard Rösl & Franz Seitz, 2012. "A simple way to capture currency abroad," Applied Economics Letters, Taylor & Francis Journals, vol. 19(15), pages 1511-1514, October.
    7. Hans-Eggert Reimers & Friedrich Schneider & Franz Seitz, 2020. "Payment Innovations, the Shadow Economy and Cash Demand of Households in Euro Area Countries," CESifo Working Paper Series 8574, CESifo.
    8. Kenneth Rogoff, 2015. "Costs and Benefits to Phasing out Paper Currency," NBER Macroeconomics Annual, University of Chicago Press, vol. 29(1), pages 445-456.
    9. Katrin Assenmacher & Franz Seitz & Jörn Tenhofen, 2019. "The demand for Swiss banknotes: some new evidence," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 155(1), pages 1-22, December.
    10. Assenmacher, Katrin & Seitz, Franz & Tenhofen, Jörn, 2017. "The use of large denomination banknotes in Switzerland," International Cash Conference 2017 – War on Cash: Is there a Future for Cash? 162917, Deutsche Bundesbank.
    11. Bartzsch, Nikolaus & Rösl, Gerhard & Seitz, Franz, 2013. "Estimating the foreign circulation of banknotes," Economics Letters, Elsevier, vol. 119(2), pages 165-167.
    12. Bartzsch, Nikolaus & Seitz, Franz & Setzer, Ralph, 2015. "The demand for euro banknotes in Germany: Structural modelling and forecasting," MPRA Paper 64949, University Library of Munich, Germany.
    13. 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.
    14. Uhl, Matthias, 2020. "Coin migration between Germany and other euro area countries," Discussion Papers 49/2020, Deutsche Bundesbank.
    15. Gene Amromin & Sujit Chakravorti, 2007. "Debit card and cash usage: a cross-country analysis," Working Paper Series WP-07-04, Federal Reserve Bank of Chicago.
    16. Franz Seitz & Lucas Devigne & Raymond de Pastor, 2022. "Different Motives for Holding Cash in France: an Analysis of the Net Cash Issues of the Banque de France," Working papers 888, Banque de France.
    17. Seitz, Franz & Krueger, Malte, 2017. "The Blessing of Cash," International Cash Conference 2017 – War on Cash: Is there a Future for Cash? 162911, Deutsche Bundesbank.
    18. André Cardoso Dias, 2019. "Estimating a country’s currency circulation within a monetary union," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Are post-crisis statistical initiatives completed?, volume 49, Bank for International Settlements.
    19. Deinhammer, Harald & Ladi, Anna, 2017. "Modelling euro banknote quality in circulation," Occasional Paper Series 204, European Central Bank.
    20. Calza Alessandro & Zaghini Andrea, 2011. "Welfare Costs of Inflation and the Circulation of U.S. Currency Abroad," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-21, May.

    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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:59545. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.