Report NEP-PAY-2026-08-10

This is the archive for NEP-PAY, a report on new working papers in the area of Payment Systems and Financial Technology. Bernardo Batiz-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:

• Aquilina, Matteo & Cornelli, Giulio & Frost, Jon & Gambacorta, Leonardo, 2025, "Cryptocurrencies and decentralised finance: functions and financial stability implications," CEPR Discussion Papers, Centre for Economic Policy Research, number 20178, Apr.
• Kenechukwu E. Anadu & Pablo D. Azar & Sean Baker & Marco Cipriani & Thomas M. Eisenbach & Gabriele La Spada & Mattia Landoni & Marco Macchiavelli & J. Christina Wang, 2026, "Stablecoins and (Non)Crypto Shocks: A 2026 Update," Liberty Street Economics, Federal Reserve Bank of New York, number 20260731, Jul, DOI: 10.59576/lse.20260731.
• Seth Dunbar & Pon Sagnanert & Alessio Saretto & Guhan Venkatu, 2026, "Tokenized deposits use blockchain structure in traditional banking framework," Dallas Fed Economics, Federal Reserve Bank of Dallas, number 103564, Jul.
• Pietro Saggese & Michael Sigmund & Burkhard Raunig & Esther Segalla & Bernhard Haslhofer & Christos A. Makridis, 2026, "Stablecoins under Stress in a National Economy: Transaction-Level Evidence from Austrian Crypto-Asset Service Providers," CESifo Working Paper Series, CESifo, number 12823.
• Sebastián Katz, 2026, "Digitalization, Forms of Money, and the Changing Morphology of the Monetary and Credit System," BCRA Working Paper Series, Central Bank of Argentina, Economic Research Department, number 2026119, Mar.
• Fabian Schär & Dario Thürkauf & David Yermack, 2026, "Unruly by Design: Fee Volatility and Strategic Attacks in Bitcoin Mining," NBER Working Papers, National Bureau of Economic Research, Inc, number 35443, Jul.
• Bernardo Candia & Olivier Coibion & Yuriy Gorodnichenko & Michael Weber, 2026, "Do You Even Crypto, Bro? Cryptocurrencies in Household Finance," Working Papers, Federal Reserve Bank of Cleveland, number 26-16, Jul, DOI: 10.26509/frbc-wp-202616.
• Karau, Sören & Moench, Emanuel, 2025, "Mining Shocks, Blockchain Security, and the Value of Bitcoin," CEPR Discussion Papers, Centre for Economic Policy Research, number 20141, Apr.
• Georgarakos, Dimitris & Kenny, Geoff & Laeven, Luc & Meyer, Justus, 2025, "Consumer Attitudes towards a Central Bank Digital Currency," CEPR Discussion Papers, Centre for Economic Policy Research, number 19997, Mar.
• Andras Komaromi & Federico Grinberg & Mr. Diego A. Cerdeiro & Yang Liu, 2026, "What Drives Crypto Mining? Evidence from Hardware Imports," IMF Working Papers, International Monetary Fund, number 2026/146, Jul.
• Andrea Panozzo, Lorenzo Spadavecchia, Adam Mugume, Elizabeth Kasekende, Samuel Namwanja Musoke, Mariss Nakayaga, Deo Sande, Anita Mpagi, Nzima Ghislain, 2026, "Nowcasting GDP with Digital Payments: Evidence from Uganda," BAFFI CAREFIN Working Papers, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy, number 26282.
• Pietro Saggese & Michael Sigmund & Burkhard Raunig & Esther Segalla & Bernhard Haslhofer & Christos Makridis, 2026, "Stablecoins under Stress in a National Economy: Transaction-Level Evidence from Austrian Crypto-Asset Service Providers," Papers, arXiv.org, number 2607.08524, Jul.
• Akcigit, Ufuk & Chhina, Raman & Cilasun, Seyit & Miranda, Javier & Serrano-Velarde, Nicolas, 2025, "Credit Card Entrepreneurs," CEPR Discussion Papers, Centre for Economic Policy Research, number 20130, Apr.
• Yeandle, Alex & Doyle, David, 2026, "Mobile money and the social contract: experimental evidence from Ghana," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 140135, Nov.
• Enache, Andreea & Rhodes, Andrew, 2025, "Platform Disintermediation with Repeated Transactions," CEPR Discussion Papers, Centre for Economic Policy Research, number 20298, May.
• Greco, Giulia & Gulesci, Selim & Prabhakar, Pallavi & Sulaiman, Munshi, 2025, "(Digital) Cash Transfers, Privacy and Women’s Empowerment: Evidence from Uganda," CEPR Discussion Papers, Centre for Economic Policy Research, number 20261, May.
• Decarolis, Francesco & Pellegrinetti, Tommaso & Rovigatti, Gabriele & Rovigatti, Michele & Shakhgildyan, Ksenia, 2025, "Algorithmic Competition and Informational Advantage in Digital Markets: Evidence from Search Auctions," CEPR Discussion Papers, Centre for Economic Policy Research, number 19983, Feb.
• Benguria, Felipe & Novy, Dennis, 2025, "How to Grow an Invoicing Currency: Micro Evidence from Argentina," CEPR Discussion Papers, Centre for Economic Policy Research, number 20311, May.
• Koo, Wesley W. & Zhang, Miaomiao & Choudhury, Prithwiraj, 2026, "Unwind the clock? Temporal distance and user interactions on a digital platform," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library, number 140136, Jun.
• Callen, Michael & Fajardo-Steinhäuser, Miguel & Findley, Michael & Ghani, Tarek, 2025, "Can Digital Aid Deliver During Humanitarian Crises?," CEPR Discussion Papers, Centre for Economic Policy Research, number 19970, Feb.
• Jakub Zwydak & Marcin Wk{a}torek & Jaros{l}aw Kwapie'n & Stanis{l}aw Dro.zd.z, 2026, "Detecting unusual trading patterns on cryptocurrency exchanges by means of complexity measures," Papers, arXiv.org, number 2607.13916, Jul.
• Francesco Crespi & Dario Guarascio & Jelena Reljic, 2026, "Technological Sovereignity, Big Tech and the Military-Digital Complex," CIMEO Working Paper Series, Centre for Investigation and Modelling of Experimental Observations (CIMEO), number 209.
• Gregor Matvos & Brent Neiman, 2026, "Financial Sanctions and the Global Payments Network," NBER Working Papers, National Bureau of Economic Research, Inc, number 35453, Jul.
• Syed Azhar Hussain & Kashif Ahmad & Mubashir Husain Rehmani, 2026, "Crypto-Microeconomics: The Distribution of Bitcoin Wealth Among Diverse Economic Agents," Papers, arXiv.org, number 2607.03646, Jul.
• Olmstead-Rumsey, Jane & Puglisi, Federico & Wu, Liangjie, 2025, "Merger Policy for Platforms: A Growth Theory Perspective," CEPR Discussion Papers, Centre for Economic Policy Research, number 20156, Apr.
• Inderst, Roman & Valletti, Tommaso M. & Wentzien, Christoph, 2026, "Europe's payments bottleneck: Merchant choice as a competition remedy," SAFE Policy Letters, Leibniz Institute for Financial Research SAFE, number 117.
• Kakhbod, Ali & Kazempour, Seyed & Livdan, Dmitry & Schürhoff, Norman, 2025, "Finfluencers," CEPR Discussion Papers, Centre for Economic Policy Research, number 20204, May.
• Buiter, Willem, 2025, "Central Banks as Fiscal and Financial Agents of the State," CEPR Discussion Papers, Centre for Economic Policy Research, number 19947, Feb.
• Chan Kim & Peter Reinhard Hansen, 2026, "The Quarter-Hour Effect: Periodic Algorithmic Trading and Return Predictability in Cryptocurrency Futures," Papers, arXiv.org, number 2607.09426, Jul, revised Jul 2026.
• Wong, Wing-Keung, 2025, "Arbitrage opportunities in no-arbitrage portfolios: The case of Bitcoin and Treasury Bills," MPRA Paper, University Library of Munich, Germany, number 130021, Jun.
• Brandon Joel Tan, 2026, "Stablecoins and Fragility in Fixed Exchange Rate Regimes," IMF Working Papers, International Monetary Fund, number 2026/144, Jul.
• Ferrari Minesso, Massimo & Mehl, Arnaud & Triay Bagur, Olga & Vansteenkiste, Isabel, 2025, "Geopolitics and Global Interlinking of Fast Payment Systems," CEPR Discussion Papers, Centre for Economic Policy Research, number 20105, Apr.