Originally from Regensburg (Bavaria), I joined QED in 2004 (short CV).
I am currently interested in
- Blockchain Economics
- Digital Payments and DeFi
- FinTech and financial market infrastructure (esp. privacy and open banking)
- Rethinking fiscal policy for macroeconomics
+++ NEWS +++
December 1-5, 2022 -- SSM Remote Masterclass: Cryptoassets
December 1, 2022 -- Konrad Yakabuski on CD Howe Commentary
November 23, 2022 -- The Problem of the Bank of Canada's Ballooned Balance Sheet (Op Ed Financial Post)
November 22, 2022 -- The Consequences of the Bank of Canada's Ballooned Balance Sheet w/ Steve Ambler & Jeremy Kronick (CD Howe Commentary)
November 21, 2022 -- Market News Interview
November 16, 2022 -- Appointed Part-time Professor at Robert Schuman Centre for Advanced Studies (EUI)
November 6, 2022 -- Grasping De(centralized) Fi(nance) through the Lens of Economic Theory (Canadian Journal of Economics)
October 24, 2022 -- Lecture and Panel for Foundational Course EUSDFA (EUI -- FBF)
October 23, 2022 -- The Economics of Cryptocurrency (Canadian Journal of Economics)
October 14, 2022 -- Discussion: An Economic Model of Consensus on Distributed Ledgers (Economics of Payments XI)
October 6, 2022 -- Seminar: PayTech and the DNA of BigTech (Board of Governors, Washington DC)
October-December, 2022 -- IADB: Course on Central Bank Digital Currencies (joint w/ Cyril Monnet)
September 1, 2022 -- Presentation: Future of Payments (RBC Senior Payments Leaders)
August 30, 2022 -- Lessons from the Yield Curve w/ Jeremy Kronick (CD Howe Commentary)
August 1, 2022 -- New Working Paper: PayTech and the D(ata) N(etwork) A(ctivities) of BigTech Platforms
May 31, 2022 -- Presentation: Lessons from the Yield Curve (CEA Annual Meetings)
May 26/27, 2022 -- Conference: Platforms and Data: Shaping the Future of Payments (joint with Bank of Canada)
April 26-28, 2022 -- Digital Currency Academy (at FBF)
April 8, 2022 -- New SSHRC Insight Grant "Payments and Privacy"
March 15, 2022 -- New Research Contract w/ FSRA "Vulnerable Consumers in the Auto Insurance Sector"
December 1, 2021 -- What Drives Bitcoin Fees? (Journal of Financial Markets Infrastructure)
November 22, 2021 -- David Parkinson on the DSM (Globe and Mail)
November 18, 2021 -- The 'Demand Stabilization Mechanism (DSM)' w/ Robin Boadway (CD Howe Commentary)
September 1, 2021 -- Appointed Dr. Robert McIntosh Faculty Fellow (Department of Economics, Queen's University)
September 17, 2021 -- Ottawa needs to build up fiscal reserves (Interview Globe and Mail)
September 16, 2021 -- Discussion: Monetizing Privacy w/ CBDC (7th BoC/PayCan Payments Symposium)
September 10, 2021 -- Housing Promises are Built on Unsound Foundations (Op Ed Financial Post)
August 25, 2021 -- Workshop on "Canada and the Digitization of Money" (Cigi/Bennett Jones)
August 12, 2021 -- Andrew Coyne on "Why not 2% or Below?" (Globe and Mail)
July 12, 2021 -- Revised Version of "The Economics of Cryptocurrency: Bitcoin and Beyond"
June 4, 2021 -- Revised Version of "What Drives Bitcoin Fees?"
May 23, 2021 -- Discussion of A Search-Theoretic Model of Double-Spending Fraud (Journal of Economic Dynamics and Control)
November 7, 2020 -- Payments & DNA of BigTech (Bank of Canada Annual Conference)
October 9, 2020 -- Discussion: Crypto, Imp. Info & Fraud (Econ. of Digital Currency)
October 1, 2020 -- CCP Recovery and Resolution (FBF Online Seminar)
September 25, 2020 -- IM on Open Banking (CD Howe)
September 22, 2020 -- Why not 2% or Below? (McGill Conference on IT)
September 15, 2020 -- Helicopter Money (Op Ed Financial Post)
September 10, 2020 -- Open Banking in Canada (CD Howe)
August 27, 2020 -- Going Direct (CD Howe)
Selected Publications
Blockchain-based Settlement for Asset Trading (joint with Jonathan Chiu), Review of Financial Studies, 32, pp. 1716-1753
Trading Dynamics with Adverse Selection and Search: Market Freeze, Intervention and Recovery (joint with Jonathan Chiu), Review of Economic Studies, 83, pp. 969-1000
Optimal Clearing Arrangements for Financial Trades (joint with Cyril Monnet and Ted Temzelides), Journal of Financial Economics, 103, pp. 189-203.
A Dynamic Model of Settlement (joint with Cyril Monnet and Ted Temzelides), Journal of Economic Theory, 142, pp. 233-246
Optimal Dynamic Risk Sharing When Enforcement is a Decision Variable, Journal of Economic Theory, 127, pp. 34-60