RBA authors try to estimate banknotes’ whereabouts

Australia's $50 banknote
Australia's new $50 banknote

A group of researchers from the Reserve Bank of Australia sets out estimates for the whereabouts of the country’s A$76 billion (US$55 billion) in outstanding banknotes in a new discussion paper.

As authors Richard Finlay, Andrew Staib and Max Wakefield say in the paper, the RBA has little information on the life of a banknote between its issuance and its ultimate destruction. “Cash, by its nature, is anonymous and hard to trace,” they say.

They exploit the move from paper to polymer notes,

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