In order to understand why there is a continuous increase in euro banknote circulation even though the use of cash for … transactions is decreasing in the euro area – a phenomenon known as the paradox of banknotes – the members of the Overseas … workstream of the Eurosystem Research Network on Cash (EURECA) have conducted a study on the foreign demand for euro banknotes …

EURO's will be more stable than thecurrent demand for national currencies. In policy circles this seeminglymoderating …

notes is mainly driven by domestic transactions and demand from outside the euro area. The transaction motive in the rest of … the euro area is part of the short-term dynamics. The long-run demand for German large denomination notes is mainly driven … by foreign demand both from the rest of the euro area and outside the EMU. The global financial crisis led to a one …