IDEAS home Printed from https://ideas.repec.org/a/prs/reveco/reco_0035-2764_1996_num_47_5_409842.html
   My bibliography  Save this article

Analyse de la répartition de la monnaie fiduciaire en coupures : la méthode de Hentsch reconsidérée

Author

Listed:
  • Leo Van Hove
  • Jef Vuchelen

Abstract

[fre] Dans une série d'articles publiés au cours des années soixante-dix et quatre-vingt, J.-C. Hentsch propose une méthode qui devrait permettre de juger objective­ment de l'utilité de chacune des coupures constituant la monnaie d'un pays donné. Le présent article rapporte les résultats d'une application de la méthode de Hentsch pour la Belgique et la France et propose surtout une modification de la méthode ini­tiale qui facilite considérablement l'interprétation des résultats. Il s'agit notamment de corriger les données sur la circulation fiduciaire - avant d'appliquer la méthode de Hentsch - en retranchant la partie qui est utilisée comme instrument de thésau­risation et non comme moyen de paiement. Il est démontré que cette correction devrait également s'avérer utile pour d'autres pays. Nous en apportons plus précisé­ment la démonstration pour les pays de l'Union européenne. [eng] In a series of articles published in the 1970s and 1980s, J.-C. Hentsch develo­ped a method to evaluate the usefulness of the different currency denominations issued by the central bank of a particular country. In this article, we report the results of an application of Hentsch's method to the case of Belgium and France. We also propose an amendment on the original method that facilitates considera­bly the interpretation of its results. The proposed amendment consists in correc­ting the statistics on currency circulation by denomination - prior to applying Hentsch's method - by subtracting the proportion that is used as a store of value rather than as a means of payment. A cross-section analysis for the European Union shows that this correction for hoarding should also be useful for countries other than Belgium and France.

Suggested Citation

  • Leo Van Hove & Jef Vuchelen, 1996. "Analyse de la répartition de la monnaie fiduciaire en coupures : la méthode de Hentsch reconsidérée," Revue Économique, Programme National Persée, vol. 47(5), pages 1149-1178.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1996_num_47_5_409842
    DOI: 10.3406/reco.1996.409842
    Note: DOI:10.3406/reco.1996.409842
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/reco.1996.409842
    Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/
    File URL: https://www.persee.fr/doc/reco_0035-2764_1996_num_47_5_409842
    Download Restriction: Data and metadata provided by Persée are licensed under a Creative Commons "Attribution-Noncommercial-Share Alike 3.0" License http://creativecommons.org/licenses/by-nc-sa/3.0/
    File URL: https://libkey.io/10.3406/reco.1996.409842?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Cramer, J. S., 1983. "Currency by denomination," Economics Letters, Elsevier, vol. 12(3-4), pages 299-303.
    2. Boeschoten, W C & Fase, M M G, 1989. "The Way We Pay with Money," Journal of Business & Economic Statistics, American Statistical Association, vol. 7(3), pages 319-326, July.
    3. Boeschoten, Willem C & Fase, Martin M G, 1992. "The Demand for Large Bank Notes," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(3), pages 319-337, August.
    4. Chen, Chau-nan, 1976. "Currency Denominations and the Price Level," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 179-183, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arkadiusz Manikowski, 2017. "Analysis of the denomination structure of the Polish currency in the context of the launch of the new 500 zloty banknote," Bank i Kredyt, Narodowy Bank Polski, vol. 48(5), pages 495-530.
    2. Bijwaard, G.E. & Franses, Ph.H.B.F., 2006. "Does rounding matter for payment efficiency?," Econometric Institute Research Papers EI 2006-43, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    3. David Bounie & Abel François, 2006. "Les déterminants de la détention et de l’usage des instruments de paiement : éléments théoriques et empiriques," Revue d'Économie Financière, Programme National Persée, vol. 83(2), pages 159-176.
    4. Bouhdaoui, Y. & Bounie, D. & Van Hove, L., 2011. "Central banks and their banknote series: The efficiency-cost trade-off," Economic Modelling, Elsevier, vol. 28(4), pages 1482-1488, July.
    5. Bouhdaoui, Y. & Bounie, D., 2012. "Efficient payments: How much do they cost for the Central Bank?," Economic Modelling, Elsevier, vol. 29(5), pages 1579-1584.
    6. Nicole Jonker, 2007. "Payment Instruments as Perceived by Consumers – Results from a Household Survey," De Economist, Springer, vol. 155(3), pages 271-303, September.
    7. Gilbert Koenig, 2004. "La demande de billets de valeurs faciales élevées et les activités financières souterraines," Recherches économiques de Louvain, De Boeck Université, vol. 70(4), pages 425-442.
    8. Bouhdaoui, Y. & Bounie, D. & François, A., 2014. "Convenient prices, cash payments and price rigidity," Economic Modelling, Elsevier, vol. 41(C), pages 329-337.
    9. Franses, Philip Hans & Kippers, Jeanine, 2007. "An empirical analysis of euro cash payments," European Economic Review, Elsevier, vol. 51(8), pages 1985-1997, November.
    10. Hebbink, Gerbert & Peeters, Marga, 1999. "The circulation of euro banknotes and coins in the Netherlands," MPRA Paper 23535, University Library of Munich, Germany.
    11. Kippers, J. & Franses, Ph.H.B.F., 2003. "Do we need all Euro denominations?," Econometric Institute Research Papers EI 2003-39, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    12. Wynne, Mark A., 1997. "More on optimal denominations for coins and currency," Economics Letters, Elsevier, vol. 55(2), pages 221-225, August.
    13. Joshi Harit & Mukherjee, Saral, 2017. "Transitions in currency denomination structure as supply disruption and demand distortion: Efficiency, Effectiveness and Bullwhip," IIMA Working Papers WP 2017-05-02, Indian Institute of Management Ahmedabad, Research and Publication Department.
    14. Bijwaard, Govert E. & Franses, Philip Hans, 2009. "The effect of rounding on payment efficiency," Computational Statistics & Data Analysis, Elsevier, vol. 53(4), pages 1449-1461, February.
    15. Franses, Ph.H.B.F. & Kippers, J., 2003. "How do we pay with euro notes? Empirical evidence from Monopoly experiments," Econometric Institute Research Papers EI 2003-32, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    16. de Heij, Hans, 2017. "A model for use-centered design of payment instruments applied to banknotes : Upid-model," Other publications TiSEM 981fb06b-8f61-4652-aedb-6, Tilburg University, School of Economics and Management.
    17. Bouhdaoui, Y. & Bounie, D. & Van Hove, L., 2013. "When do plastic bills lower the bill for the central bank? A model and estimates for the U.S," Journal of Policy Modeling, Elsevier, vol. 35(1), pages 45-60.
    18. van Hove, Leo & Heyndels, Bruno, 1996. "On the optimal spacing of currency denominations," European Journal of Operational Research, Elsevier, vol. 90(3), pages 547-552, May.
    19. Isilda Shima, 2005. "The Shadow Economy in NorwayDemand for Currency Approach," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(1), pages 61-78, February.
    20. Kaushik Bhattacharya, 2011. "Demand and Supply of Currencies of Small Denominations: A Theoretical Framework," Journal of Quantitative Economics, The Indian Econometric Society, vol. 9(2), pages 123-139, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:reveco:reco_0035-2764_1996_num_47_5_409842. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/reco .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.