Report NEP-PAY-2025-12-01

This is the archive for NEP-PAY, a report on new working papers in the area of Payment Systems and Financial Technology. Bernardo Bátiz-Lazo issued this report. It is usually issued weekly.

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Other reports in NEP-PAY

The following items were announced in this report:

• Serkan Arslanalp & Barry Eichengreen & Chima Simpson-Bell, 2025. "Our Underappreciated International Reserve System," NBER Working Papers 34478, National Bureau of Economic Research, Inc.
• Anna L. Paulson, 2025. "Harnessing the Benefits, Minding the Risks of Fintech Innovations," Speech 102104, Federal Reserve Bank of Philadelphia.
• Wenli Cheng, 2025. "The Euro, The Bancor and The Dollar: A Ricardian Model," Monash Economics Working Papers 2025-19, Monash University, Department of Economics.
• Roudari, Soheil & Omidi, Vahid & Ahmadian-Yazdi, Fazaneh, 2024. "The Dynamics of Fossil Fuels, Cryptocurrencies, and Clean Energy: Dose the Energy market's price volatility create an incentive for cryptocurrency mining?," MPRA Paper 126833, University Library of Munich, Germany.
• Leonardo Gambacorta & Nico Lauridsen & Samir Kiuhan-Vásquez & Jermy Prenio, 2025. "Making suptech work: evidence on the key drivers of adoption," BIS Working Papers 1309, Bank for International Settlements.
• Srichander Ramaswamy, "undated". "Wholesale CBDC: Examining the Business Case," Working Papers wp57, South East Asian Central Banks (SEACEN) Research and Training Centre, revised Nov 2025.
• Ngunza Maniata, Kevin, 2025. "Digital Finance and Institutional Trust in the DRC: Building the Foundations of Inclusive Growth," MPRA Paper 126774, University Library of Munich, Germany.
• Marzia Morena & Tommaso Truppi, 2025. "Civic Crowdfunding for the Enhancement of Small Italian Municipalities," ERES eres2025_21, European Real Estate Society (ERES).
• Mary C. Daly, 2025. "Modern Central Banking: Monetary Policy Implementation and Communication," Speech 102110, Federal Reserve Bank of San Francisco.
• Nicolás Cachanosky & Emilio Ocampo & Karla Hernández & John Ramseur, 2024. "Did dollarization help Ecuador?," CEMA Working Papers: Serie Documentos de Trabajo. 877, Universidad del CEMA.
• Giulio Cornelli, 2025. "When bricks meet bytes: does tokenisation fill gaps in traditional real estate markets?," BIS Working Papers 1311, Bank for International Settlements.
• Nicola Cetorelli & Saketh Prazad, 2025. "U.S. Banks Have Developed a Significant Nonbank Footprint," Liberty Street Economics 20251118a, Federal Reserve Bank of New York.
• Marijana Sreckovic & Bernhard Wurdinger, 2025. "Tokenizing Real Estate in Project Development," ERES eres2025_157, European Real Estate Society (ERES).
• Markus Brunnermeier & Jonathan Payne, 2025. "Big techs, credit, and digital money," BIS Working Papers 1306, Bank for International Settlements.
• Babolmorad, N. & Bossaerts, P. & Massoud, N., 2025. "Viral but Vanishing: Investment Advisors, Social Media, and Regulation," Cambridge Working Papers in Economics 2576, Faculty of Economics, University of Cambridge.
• International Monetary Fund, 2025. "Switzerland: Financial Sector Assessment Program-Technical Note on Cyber Risk Supervision," IMF Staff Country Reports 2025/296, International Monetary Fund.
• Qian'ang Mao & Yuxuan Zhang & Jiaman Chen & Wenjun Zhou & Jiaqi Yan, 2025. "Know Your Intent: An Autonomous Multi-Perspective LLM Agent Framework for DeFi User Transaction Intent Mining," Papers 2511.15456, arXiv.org.
• Ghulam Mustafa & Muhammad Hamza Amjad, 2025. "Transforming Real Estate in Pakistan through Blockchain: An Agent-Based Simulations Study," PIDE-Working Papers 2025:12, Pakistan Institute of Development Economics.
• Iñaki Aldasoro & Ajit Desai, 2025. "AI agents for cash management in payment systems," BIS Working Papers 1310, Bank for International Settlements.
• Arnold, René & Schneider, Anna, 2025. "The 'Average' Consumer in the Dark Pattern Age – A qualitative exploration into vulnerability and coping strategies exhibited by consumers to inform the Digital Fairness Act," 33rd European Regional ITS Conference, Edinburgh, 2025: Digital innovation and transformation in uncertain times 331252, International Telecommunications Society (ITS).
• Hledik Juraj & Konecny Jakub & Christaras Vasileios & Di Girolamo Francesca & Kounelis Ioannis & Pagano Andrea & Bazzanini Andrea & Iacovone Massimo, 2025. "CIPHER: Monitoring Crypto Markets," JRC Research Reports JRC143790, Joint Research Centre.
• Anahit Poghosyan & Gevorg Minasyan, 2025. "Can Financial Behaviour Predict Driving Risk? Evidence from Armenia's Auto Insurance Market," Working Papers WP-2025-03, Central Bank of Armenia.
• Rashad Ahmed & James A. Clouse & Fabio Natalucci & Alessandro Rebucci & Geyue Sun, 2025. "Stablecoins: A Revolutionary Payment Technology with Financial Risks," NBER Working Papers 34475, National Bureau of Economic Research, Inc.
• Rodrigo J. Raad & Juan Pablo Gama, 2025. "Time Consistence And Stable Digital Currency In General Equilibrium," Textos para Discussão Cedeplar-UFMG 688, Cedeplar, Universidade Federal de Minas Gerais.
• Iñaki Aldasoro & Ajit Desai, 2025. "Money Talks: AI Agents for Cash Management in Payment Systems," Staff Working Papers 25-35, Bank of Canada.
• Catalin Dumitrescu, 2025. "CBDC Stress Test in a Dual-Currency Setting," Papers 2511.13384, arXiv.org, revised Dec 2025.
• Matteo Aquilina & Ulf Lewrick & Federico Ravenna & Lorenzo Schönleber, 2025. "The rise of tokenised money market funds," BIS Bulletins 115, Bank for International Settlements.
• AYDIN, Samet, 2025. "Why Does Customer Relationship Management Exist," SocArXiv j5qaz_v1, Center for Open Science.