Bartzsch, Nikolaus; Rösl, Gerhard; Seitz, Franz - 2011
In this paper, we endeavour to determine the volume of euro banknotes issued by Germany that is in circulation outside … Germany. In so doing, we draw a distinction between banknotes outstanding in non-euro-area countries and those that are in … outside Germany indirectly. The observation period runs from 2002 to 2009. We discover that, at the end of 2009, a total of …