Bartzsch, Nikolaus; Uhl, Matthias - 2017
at the end of 2015; of this figure, 40 to 50 percentage points were in circulation outside the euro area, and 20 to 30 … percentage points in other euro-area countries. Between 30% and 35% of the Bundesbank’s cumulated net issuance was in circulation … newly estimated time series for domestic hoardings does not feature a noticeable break due to the euro area's low …