Publications on Banknotes & coins
- 2 December 2020
- OTHER PUBLICATIONSDetails
- Network
- Eurosystem Research Network on Cash (EURECA)
Annexes- 2 December 2020
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- 2 December 2020
- ANNEX
Related- 2 December 2020
- PRESS RELEASESEnglishOTHER LANGUAGES (14) +
- 24 September 2018
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 6, 2018Details
- Abstract
- This article presents the developments in the circulation of euro banknotes and the underlying drivers of cash demand in the euro area and abroad. Cash in circulation is on the rise, both in the euro area and abroad. In addition, data from a survey on the use of cash in the euro area indicates that by volume and number of transactions cash remained the most used payment instrument in 2016. However, the growth in banknote circulation can only partially be explained by transaction demand. Most euro banknotes in circulation are used as a store of value and households and firms inside and outside of the euro area obviously value the option of storing part of their assets in central bank money. Considering the currently low opportunity costs of holding cash, the stored euro banknotes can be expected to return if interest rates were to increase. However, as shown by developments over the past ten years, the store of value function is determined not only by interest rates, but also by external events which cannot be predicted. The demand for banknotes has also been impacted by various additional factors such as the financial and sovereign debt crises, geopolitical uncertainties, exchange rate developments and policy decisions
- JEL Code
- D12 : Microeconomics→Household Behavior and Family Economics→Consumer Economics: Empirical Analysis
E41 : Macroeconomics and Monetary Economics→Money and Interest Rates→Demand for Money
E42 : Macroeconomics and Monetary Economics→Money and Interest Rates→Monetary Systems, Standards, Regimes, Government and the Monetary System, Payment Systems - Network
- Eurosystem Research Network on Cash (EURECA)
- 20 September 2017
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 06, 2017
- 23 July 2015
- OTHER PUBLICATIONSRelated
- 23 July 2015
- PRESS RELEASESEnglishOTHER LANGUAGES (22) +
- 26 March 2015
- OTHER PUBLICATIONS
- 14 April 2011
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 4, 2011
- 21 April 2009
- OTHER PUBLICATIONS
- 21 April 2009
- OTHER PUBLICATIONS
- 29 May 2008
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 5, 2008
- 21 April 2008
- OTHER PUBLICATIONS
- 21 April 2008
- OTHER PUBLICATIONS
- 11 October 2007
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 10, 2007
- 23 April 2007
- OTHER PUBLICATIONS
- 23 April 2007
- OTHER PUBLICATIONS
- 12 April 2007
- OTHER PUBLICATIONSEnglishOTHER LANGUAGES (20) +
- 21 December 2006
- OTHER PUBLICATIONSEnglishOTHER LANGUAGES (21) +
- 7 August 2006
- OTHER PUBLICATIONSEnglishOTHER LANGUAGES (21) +
- 25 April 2006
- OTHER PUBLICATIONS
- 13 January 2006
- OTHER PUBLICATIONSEnglishOTHER LANGUAGES (21) +
- 11 August 2005
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 8, 2005
- 26 April 2005
- OTHER PUBLICATIONS
- 6 January 2005
- OTHER PUBLICATIONSEnglishOTHER LANGUAGES (21) +Related
- 6 January 2005
- PRESS RELEASESEnglishOTHER LANGUAGES (19) +
- 12 August 2004
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 8, 2004
- 27 April 2004
- OTHER PUBLICATIONS
- 1 September 2003
- OTHER PUBLICATIONS
- 17 July 2003
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 7, 2003
- 10 April 2003
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- 23 January 2003
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 1, 2003
- 29 October 2002
- OTHER PUBLICATIONS
- 30 June 2002
- OTHER PUBLICATIONS
- 24 May 2002
- OTHER PUBLICATIONS
- 9 May 2002
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 5, 2002
- 10 April 2002
- OTHER PUBLICATIONSRelated
- 24 April 2002
- PRESS RELEASES
- 1 April 2002
- OTHER PUBLICATIONS
- 24 January 2002
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 1, 2002
- 18 October 2001
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 10, 2001
- 1 May 2001
- OTHER PUBLICATIONS
- 19 April 2001
- ECONOMIC BULLETIN ARTICLEEconomic Bulletin Issue 4, 2001
- 1 April 2000
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- 9 November 1999
- OTHER PUBLICATIONSRelated
- 9 November 1999
- PRESS RELEASES
- 1 April 1999
- OTHER PUBLICATIONS