Overlapping aakk, who said the same thing in 1/4 as may words. As usual. When you say "shortened URL" do you mean something that's routed via an URL-shortening service, so it says "abc.de/fgh" when it's really "example.com/directory/subdirectory/long-complicated-name?with-still-longer-query" so every single link on the site effectively points to a 301?
What on earth is the advantage? Seems like something you'd only do if the site had a lot of ugc on a platform that didn't allow for anchor text, but only naked links.
Otherwise what you get is: Human users who don't know what an URL is would just click on the anchor, which could say anything you like:
<a href = "http://abc.de/fgh">click to make your dreams come true</a>
looks identical to
<a href = "/directory/subdirectory/long-complicated-name?with-still-longer-query">click to make your dreams come true</a>
while users who do know what an URL is will take a moment to hover over the link-- and might then retreat in suspicion when they notice it points to a different domain.
:: uneasily wondering why "http://abc.de" didn't auto-link, even before I wrapped it in [ code ] tags ::
Or did I completely misunderstand the question?
Wouldn't be the first time.