euro area in terms of frequency content and phasing of cycles. The methodology uses the continuous wavelet transform (CWT … phasing between the three core members of the euro area (France, Germany and Italy) have increased since the launch of the … euro …

In this paper, we analyze the volume of euro banknotes issued by Germany within the euro area with several seasonal … methods. We draw a distinction between movements within Germany, circulation outside Germany but within the euro area and … demand from non-euroarea countries. Our approach suggests that only about 20% of euro notes issued by Germany are used for …