The demand for Swiss banknotes: some new evidence
Abstract Knowing the part of currency in circulation that is used for transactions is important information for a central bank. For several countries, the share of banknotes that is hoarded or circulates abroad is sizeable, which may be particularly relevant for large-denomination banknotes. We anal...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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SpringerOpen
2019-08-01
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| Series: | Swiss Journal of Economics and Statistics |
| Subjects: | |
| Online Access: | http://link.springer.com/article/10.1186/s41937-019-0041-7 |
| _version_ | 1828497867631755264 |
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| author | Katrin Assenmacher Franz Seitz Jörn Tenhofen |
| author_facet | Katrin Assenmacher Franz Seitz Jörn Tenhofen |
| author_sort | Katrin Assenmacher |
| collection | DOAJ |
| description | Abstract Knowing the part of currency in circulation that is used for transactions is important information for a central bank. For several countries, the share of banknotes that is hoarded or circulates abroad is sizeable, which may be particularly relevant for large-denomination banknotes. We analyze the demand for Swiss banknotes over a period starting in 1950 to 2017 and use different methods to derive the evolution of the amount that is hoarded. Our findings indicate a sizeable amount of hoarding, in particular for large denominations. The hoarding shares increased around the break-up of the Bretton Woods system, were comparatively low in the mid-1990s, and have increased significantly since the turn of the millennium and the recent financial and economic crises. |
| first_indexed | 2024-12-11T12:55:31Z |
| format | Article |
| id | doaj.art-19386069babd408281600e2edffbd66f |
| institution | Directory Open Access Journal |
| issn | 2235-6282 |
| language | English |
| last_indexed | 2024-12-11T12:55:31Z |
| publishDate | 2019-08-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Swiss Journal of Economics and Statistics |
| spelling | doaj.art-19386069babd408281600e2edffbd66f2022-12-22T01:06:35ZengSpringerOpenSwiss Journal of Economics and Statistics2235-62822019-08-01155112210.1186/s41937-019-0041-7The demand for Swiss banknotes: some new evidenceKatrin Assenmacher0Franz Seitz1Jörn Tenhofen2European Central BankWeiden Technical University of Applied SciencesSwiss National BankAbstract Knowing the part of currency in circulation that is used for transactions is important information for a central bank. For several countries, the share of banknotes that is hoarded or circulates abroad is sizeable, which may be particularly relevant for large-denomination banknotes. We analyze the demand for Swiss banknotes over a period starting in 1950 to 2017 and use different methods to derive the evolution of the amount that is hoarded. Our findings indicate a sizeable amount of hoarding, in particular for large denominations. The hoarding shares increased around the break-up of the Bretton Woods system, were comparatively low in the mid-1990s, and have increased significantly since the turn of the millennium and the recent financial and economic crises.http://link.springer.com/article/10.1186/s41937-019-0041-7Currency in circulationCashDemand for banknotesHoarding of banknotesBanknotes held by non-residents |
| spellingShingle | Katrin Assenmacher Franz Seitz Jörn Tenhofen The demand for Swiss banknotes: some new evidence Swiss Journal of Economics and Statistics Currency in circulation Cash Demand for banknotes Hoarding of banknotes Banknotes held by non-residents |
| title | The demand for Swiss banknotes: some new evidence |
| title_full | The demand for Swiss banknotes: some new evidence |
| title_fullStr | The demand for Swiss banknotes: some new evidence |
| title_full_unstemmed | The demand for Swiss banknotes: some new evidence |
| title_short | The demand for Swiss banknotes: some new evidence |
| title_sort | demand for swiss banknotes some new evidence |
| topic | Currency in circulation Cash Demand for banknotes Hoarding of banknotes Banknotes held by non-residents |
| url | http://link.springer.com/article/10.1186/s41937-019-0041-7 |
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