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Der Auslandsumlauf deutscher Euro-Banknoten: Schätzung mit indirekten Ansätzen

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  • Bartzsch, Nikolaus
  • Rösl, Gerhard
  • Seitz, Franz

Abstract

In dem vorliegenden Papier versuchen wir den Bestand der Euro-Banknoten zu ermitteln, der sich von der deutschen Banknotenemission im Ausland befindet. Dabei unterscheiden wir nach Beständen, die außerhalb des Euro-Währungsraumes gehalten werden, und solchen, die in anderen Ländern der EWU zirkulieren. Die Analyse basiert auf Ansätzen, die den Auslandsumlauf auf indirektem Wege abschätzen. Der Untersuchungszeitraum reicht von 2002 bis 2009. Wir finden heraus, dass Ende 2009 insgesamt rund zwei Drittel der deutschen kumulierten Nettoemissionen im Ausland umliefen. Der größte Teil, etwa 160 Mrd. €, befand sich außerhalb des Euro-Raums, der Rest - 80 Mrd. € - lief in anderen EWU-Ländern um. Somit entsprach der Inlandsumlauf deutscher Euro-Banknoten nur rund einem Drittel aller von der Bundesbank in Höhe von 350 Mrd. € in Umlauf gegebenen Banknoten. Damit werden die Ergebnisse direkter Ansätze bestätigt.

Suggested Citation

  • 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.
  • Handle: RePEc:zbw:bubdp1:201121
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    Cited by:

    1. Deinhammer, Harald & Ladi, Anna, 2017. "Modelling euro banknote quality in circulation," Occasional Paper Series 204, European Central Bank.
    2. 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.
    3. Doris Ritzberger-Grünwald & Thomas Scheiber, 2012. "Euro Cash in Central, Eastern and Southeastern Europe," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 41-55.
    4. Michael Pickhardt & Jordi Sardà, "undated". "Cash, Hoarding and the Underground Economy," Working Papers 201282, Institute of Spatial and Housing Economics, Munster Universitary.
    5. Bartzsch, Nikolaus & Rösl, Gerhard & Seitz, Franz, 2013. "Estimating the foreign circulation of banknotes," Economics Letters, Elsevier, vol. 119(2), pages 165-167.
    6. 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.
    7. Kenneth Rogoff, 2015. "Costs and Benefits to Phasing out Paper Currency," NBER Macroeconomics Annual, University of Chicago Press, vol. 29(1), pages 445-456.
    8. Altmann, Markus & Bartzsch, Nikolaus, 2014. "The volume of euro coins held for transaction purposes in Germany," MPRA Paper 59542, University Library of Munich, Germany.
    9. 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.

    More about this item

    Keywords

    Banknoten; Euro; Auslandsumlauf; Hortung; Transaktionskasse; Binnenmigration; Banknotes; euro; foreign demand; hoarding; transaction balances; domestic migration;

    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
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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