The demand for Swiss banknotes: Some new evidence

Artikel

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Swiss Journal of Economics and Statistics ; ISSN: 2235-6282 ; Volume: 155 ; Year: 2019 ; Issue: 14 ; Pages: 1-22 ; Heidelberg: Springer

Classification and Topics

• Classification: Wirtschaft ; Demand for Money ; Monetary Policy ; Central Banks and Their Policies
• Subject: Currency in circulation ; Cash Demand for banknotes ; Hoarding of banknotes ; Banknotes held by non-residents

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Assenmacher-Wesche, Katrin ; Seitz, Franz ; Tenhofen, Jörn
• Event: Veröffentlichung
• (who): Springer
• (where): Heidelberg
• (when): 2019

Further information

• DOI: doi:10.1186/s41937-019-0041-7
• Handle: http://hdl.handle.net/10419/259739
• Last update: 10.03.2025, 11:45 AM CET