government regulations and supply-side restrictions by commercial banks. Nonetheless, overall demand for euro cash remained … digital euro have become more perceptible, its fundamental design properties remain unknown. We propose a double pre … online instant payments. The issuance of a digital euro would be neutral to total money supply as banks act only as …

In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the …

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 …

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 …

We estimate the shoe-leather costs of inflation in the euro area using monetary data adjusted for holdings of euro … anticipated inflation. We conclude that, despite the increased circulation of euro banknotes abroad, in the euro area the …

We estimate the shoe leather costs of inflation in the euro area by using monetary data adjusted for holdings of euro … that, despite the increased circulation of euro banknotes abroad, inflation tax is still predominantly borne by domestic … agents in the euro area, with transfers of resources from abroad remaining small …

This paper investigates the demand for euros using panel data for 10 euro area countries covering the period from 1999 … in housing prices are also able to explain part of the monetary overhang in the euro area since 2005. We conclude that … housing price developments within the euro area are relevant to an understanding of the demand for euros, and thus warrant …