Selected policy work

• Crypto trading and Bitcoin prices: evidence from a new database of retail adoption (2022), with R. Auer, G. Cornelli, J. Frost and L. Gambacorta, BIS Working Paper No 1049

• Recessions and mortality: a global perspective (2022), with B. Hofmann, Economics Letters 220(110860), (PDF, SSRN)

• DeFi lending: intermediation without information?, with S. Aramonte, W. Huang and A. Schrimpf, BIS Bulletin No 57

• Blockchain scalability and the fragmentation of crypto, with F. Boissay, G. Cornelli and J. Frost, BIS Bulletin No 56

• Non-bank lenders in the syndicated loan market (2022), with I. Aldasoro and H. Zhou, BIS Quarterly Review, March

• Central bank digital currencies and data in the digital age: A triple imperative (2021), with R. Auer, J. Frost, L. Gambacorta and H.S. Shin, in CEPR e-book "Central Bank Digital Currency: Considerations, Projects, Outlook".

• Technological capacity and firms' recovery from Covid-19 (2021), with M. Erdem, G. Franco, L. Gambacorta and A. Illes, Economics Letters 209(110102), (PDF, SSRN)

• Funding for fintechs: patterns and drivers (2021), with G. Cornelli, L. Franco, and J. Frost, BIS Quarterly Review, September

• Whom do consumers trust with their data? US survey evidence (2021), with O. Amantier, J. Frost, A. Fuster and K. Shue, BIS Bulletin No 42

• Big data and machine learning in central banking (2021), with L. Gambacorta and J.-M. Serena, BIS Working Paper No 930

• Covid-19 and regional employment in Europe (2020), with L. Gambacorta, BIS Bulletin No 16 (Data for maps in Graph 2)

• Identifying regions at risk with Google Trends: the impact of Covid-19 on US labour markets (2020), with L. Gambacorta, BIS Bulletin No 8

Blogs, columns, etc

• Inequality and the Decline of Small Business, with T. Drechsel and D. Lee, EFIP Research Brief

• Mind the gap - is fintech closing the gender gap in access to financial services? (2021), with S. Chen, J. Forst, L. Gambacorta and H.S. Shin, World Bank Blog All About Finance

• Digging for gold: how regulatory sandboxes help fintechs raise funding (2021), with G. Cornelli, L. Gambacorta and O. Merrouche, VoxEU.org

• How international trade disciplines the internal capital market and reduces the conglomerate discount (2020), with D. Marin, D. Suverato and T. Verdier, VoxEU.org

• How failing banks paved Hitler's path to power: Financial crisis and right-wing extremism in Germany, 1931-33 (2019), with J.-L. Peydro and H.-J. Voth, VoxEU.org

• Die deutsche Bankenkrise und Hitlers Weg an die Macht: Lehren aus der Geschichte (2019), with J.-L. Peydro and H.-J. Voth, Ökonomenstimme.org

• Could housing booms undermine productivity growth? (2020), SUERF Policy Brief No 40

Selected media coverage

• The Economist: What is the link between economic crises and political ruptures?

• The Economist: How high property prices can damage the economy

• NY Times: Is This the End Game for Crypto?

• Wall Street Journal: How property booms eat our economic future

• Financial Times: The time to embrace digital currency is now

• Financial Times: Cryptocurrencies are not the new monetary system we need

• Bloomberg: The Fintech Express Is Leaving Women Behind

• Bloomberg: Odd Lots Newsletter: What Can Halt The Decline of Crypto?

• Bloomberg: Vast Majority of Retail Investors in Bitcoin Lost Money, BIS Says

• The Washington Post: The Centuries-Old Financial System Better Than DeFi

• The Guardian: A banking crisis isn’t just bad for business, it can also poison politics

• Forbes: DeFi Is Real, Whatever Happens To Cryptocurrency

• The Syndney Morning Herald: COVID-19: A health and economic disaster but also a natural experiment

• Neue Zürcher Zeitung: Ist die Therapie fataler als das Virus? Auch die Abkühlung der Wirtschaft kostet Menschenleben – vor allem in langer Frist

• Der Spiegel: Kamen Sie auch zu spät zur Kryptoparty?

• FAZ: Bitcoin - Die meisten machen Verlust

• Wirtschaftswoche: Das Mysterium der Preise

• Politico: 'The IMF is evil': Rich countries take aim at nations adopting crypto

• Fortune.com: BIS economists say cryptio cant fulfill the social role of money

• CoinDesk: BIS Economists Contend Crypto Can't Fulfill the Role of Money

• IMF Finance and Development: Let's build a better data economy

• Central Banking: Fintech use shows international gender gap

• Central Banking: Financial crises can radicalise voters

• Project Syndicate: How Chinese Competition Helps Western Conglomerates

• Financial Services Forum: Unintended Side Effects: Stress Tests, Small Businesses and Economic Dynamism

• Moody's Analytics: BIS on Impact of Stress Tests on Entrepreneurship and Innovation in US

• Gabriel Makhlhouf: COVID-19: What can we learn from history?