Ritzberger-Grünwald, Doris; Scheiber, Thomas - In: Monetary Policy & the Economy (2012) 1, pp. 41-55
A considerable part of the euro banknotes issued since 2002 is in circulation in Central, Eastern and Southeastern European (CESEE) countries. This can be attributed to the fact that numerous economic agents resorted to currency substitution in a parallel safe haven currency during the crisis...