Raphael Auer
@raphauer.bsky.social
Economist, Eurosystem Centre head BIS Innovation Hub; founder of CEBRA.org (own views) - research site: https://sites.google.com/site/raphaelauer/home
Job alert: my current role. After 4 rewarding years leading the Eurosystem Centre, I’ll be moving back into a research role early next year. We’re also re-opening the search for the Nordic Centre Head — both applications close October 14:
www.bis.org/careers/vaca...
www.bis.org/careers/vaca...
September 17, 2025 at 6:57 PM
Job alert: my current role. After 4 rewarding years leading the Eurosystem Centre, I’ll be moving back into a research role early next year. We’re also re-opening the search for the Nordic Centre Head — both applications close October 14:
www.bis.org/careers/vaca...
www.bis.org/careers/vaca...
Happy to announce Leap Phase 2: together with Swift, Nexi, Banca d'Italia, Banque de France, and Bundesbank, we are exploring the implementation of post-quantum cryptography in a European payment system:
www.bis.org/about/bisih/...
Congrats to the Leap team for launching this initiative!
www.bis.org/about/bisih/...
Congrats to the Leap team for launching this initiative!
July 9, 2025 at 1:07 PM
Happy to announce Leap Phase 2: together with Swift, Nexi, Banca d'Italia, Banque de France, and Bundesbank, we are exploring the implementation of post-quantum cryptography in a European payment system:
www.bis.org/about/bisih/...
Congrats to the Leap team for launching this initiative!
www.bis.org/about/bisih/...
Congrats to the Leap team for launching this initiative!
Reposted by Raphael Auer
We must prepare our financial system for quantum threats. A new paper shows how: www.bis.org/publ/bppdf/b...
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
July 7, 2025 at 8:10 AM
We must prepare our financial system for quantum threats. A new paper shows how: www.bis.org/publ/bppdf/b...
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
We must prepare our financial system for quantum threats. A new paper shows how: www.bis.org/publ/bppdf/b...
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
July 7, 2025 at 8:10 AM
We must prepare our financial system for quantum threats. A new paper shows how: www.bis.org/publ/bppdf/b...
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
#Quantumcomputing poses a significant risk to global financial stability. This joint work with Donna Dodson, Angela Dupont, Maryam Haghighi, Nicolas Margaine, ... (1/3)
Reposted by Raphael Auer
How economically significant is decentralized finance (#DeFi)?
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
May 15, 2025 at 6:29 AM
How economically significant is decentralized finance (#DeFi)?
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
How economically significant is decentralized finance (#DeFi)?
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
May 15, 2025 at 6:29 AM
How economically significant is decentralized finance (#DeFi)?
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
www.bis.org/publ/work126...
Total Value Locked (#TVL) aims to capture the size of any ecosystem by summing up the funds that are locked in a given ecosystem, much like the liability side of a bank’s balance sheet. However...
Reposted by Raphael Auer
Here's a new report from the Bank for International Settlements, showing the reality of digital assets with actual data.
Yes, most activity is pure speculation. BUT, there is legitimate transactional cross-border usage of stablecoins.
www.bis.org/publ/work126...
Yes, most activity is pure speculation. BUT, there is legitimate transactional cross-border usage of stablecoins.
www.bis.org/publ/work126...
DeFiying gravity? An empirical analysis of cross-border Bitcoin, Ether and stablecoin flows
We investigate trends and drivers of cross-border flows of the two major native cryptoassets (Bitcoin and Ether) and the two major asset-backed stablecoins (Tether and USD Coin) between 184 countries ...
www.bis.org
May 9, 2025 at 1:52 PM
Here's a new report from the Bank for International Settlements, showing the reality of digital assets with actual data.
Yes, most activity is pure speculation. BUT, there is legitimate transactional cross-border usage of stablecoins.
www.bis.org/publ/work126...
Yes, most activity is pure speculation. BUT, there is legitimate transactional cross-border usage of stablecoins.
www.bis.org/publ/work126...
Reposted by Raphael Auer
New data shows #Stablecoins are quietly emerging as a global transactional means and reshaping remittance flows.
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
May 8, 2025 at 12:05 PM
New data shows #Stablecoins are quietly emerging as a global transactional means and reshaping remittance flows.
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
New data shows #Stablecoins are quietly emerging as a global transactional means and reshaping remittance flows.
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
May 8, 2025 at 12:05 PM
New data shows #Stablecoins are quietly emerging as a global transactional means and reshaping remittance flows.
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
Happy to share "DeFiying Gravity? An Empirical Analysis of Cross-Border Bitcoin, Ether and Stablecoin Flows," with Ulf Lewrick and Jan Paulick: www.bis.org/publ/work126...
We...
Reposted by Raphael Auer
Join the BIS Innovation Hub in Frankfurt, Paris, Hong Kong, London, Basel, Stockholm, Singapore, or Toronto. We have a number of secondment opportunities. Duration is typically 6-18 months.
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
May 2, 2025 at 6:43 PM
Join the BIS Innovation Hub in Frankfurt, Paris, Hong Kong, London, Basel, Stockholm, Singapore, or Toronto. We have a number of secondment opportunities. Duration is typically 6-18 months.
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
Join the BIS Innovation Hub in Frankfurt, Paris, Hong Kong, London, Basel, Stockholm, Singapore, or Toronto. We have a number of secondment opportunities. Duration is typically 6-18 months.
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
May 2, 2025 at 6:43 PM
Join the BIS Innovation Hub in Frankfurt, Paris, Hong Kong, London, Basel, Stockholm, Singapore, or Toronto. We have a number of secondment opportunities. Duration is typically 6-18 months.
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
Find here more information on the job and how to apply:
lde.tbe.taleo.net/lde01/ats/ca...
Reposted by Raphael Auer
I found this video by MIT Professor Andrej Karpathy really worth the time (3½ hours). A non-technical walkthrough on creating an LLM chatbot like ChatGPT.
youtu.be/7xTGNNLPyMI?...
youtu.be/7xTGNNLPyMI?...
Deep Dive into LLMs like ChatGPT
YouTube video by Andrej Karpathy
youtu.be
April 27, 2025 at 12:42 PM
I found this video by MIT Professor Andrej Karpathy really worth the time (3½ hours). A non-technical walkthrough on creating an LLM chatbot like ChatGPT.
youtu.be/7xTGNNLPyMI?...
youtu.be/7xTGNNLPyMI?...
I found this video by MIT Professor Andrej Karpathy really worth the time (3½ hours). A non-technical walkthrough on creating an LLM chatbot like ChatGPT.
youtu.be/7xTGNNLPyMI?...
youtu.be/7xTGNNLPyMI?...
Deep Dive into LLMs like ChatGPT
YouTube video by Andrej Karpathy
youtu.be
April 27, 2025 at 12:42 PM
I found this video by MIT Professor Andrej Karpathy really worth the time (3½ hours). A non-technical walkthrough on creating an LLM chatbot like ChatGPT.
youtu.be/7xTGNNLPyMI?...
youtu.be/7xTGNNLPyMI?...
Unlocking seamless, instant, and safe FX settlements - read our brand new report on Meridian FX connecting DL3S, the Trigger solution, and TIPS Hash-link to the UK RTGS system: www.bis.org/publ/othp94....
April 24, 2025 at 12:26 PM
Unlocking seamless, instant, and safe FX settlements - read our brand new report on Meridian FX connecting DL3S, the Trigger solution, and TIPS Hash-link to the UK RTGS system: www.bis.org/publ/othp94....
Reposted by Raphael Auer
@raphauer.bsky.social, Cyril Monnet, & Hyun Song Shin discover that the economic gains from decentralisation of monetary ledgers are far from self-evident. One must balance decentralisation, security, and scalability.
cepr.org/voxeu/column...
#EconSky
cepr.org/voxeu/column...
#EconSky
April 9, 2025 at 8:50 AM
@raphauer.bsky.social, Cyril Monnet, & Hyun Song Shin discover that the economic gains from decentralisation of monetary ledgers are far from self-evident. One must balance decentralisation, security, and scalability.
cepr.org/voxeu/column...
#EconSky
cepr.org/voxeu/column...
#EconSky
Reposted by Raphael Auer
For no particular reason, it might be a good time to repost my Starter pack of academic economists who study international trade
go.bsky.app/G3dqAYg
go.bsky.app/G3dqAYg
April 3, 2025 at 1:42 PM
For no particular reason, it might be a good time to repost my Starter pack of academic economists who study international trade
go.bsky.app/G3dqAYg
go.bsky.app/G3dqAYg
Reposted by Raphael Auer
Is there an economic case for decentralization? Below, some takeaways from a paper with Cyril Monnet and Hyun Shin, now available in the JFE: www.sciencedirect.com/science/arti...
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
March 14, 2025 at 9:12 AM
Is there an economic case for decentralization? Below, some takeaways from a paper with Cyril Monnet and Hyun Shin, now available in the JFE: www.sciencedirect.com/science/arti...
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
Reposted by Raphael Auer
Submission deadline for #CEBRA25 is tomorrow 20.03: www.cebra-events.org/call-for-pap...
March 19, 2025 at 8:51 AM
Submission deadline for #CEBRA25 is tomorrow 20.03: www.cebra-events.org/call-for-pap...
Reposted by Raphael Auer
Please share! We are happy to announce up to 4 Adviser positions (Secondment). The BIS Innovation Hub Eurosystem Centre invites applications for Project Lead, Data Engineer, Economist, and Data Scientist.
These roles offer opportunities to (1/4)...
These roles offer opportunities to (1/4)...
March 18, 2025 at 4:49 PM
Please share! We are happy to announce up to 4 Adviser positions (Secondment). The BIS Innovation Hub Eurosystem Centre invites applications for Project Lead, Data Engineer, Economist, and Data Scientist.
These roles offer opportunities to (1/4)...
These roles offer opportunities to (1/4)...
Submission deadline for #CEBRA25 is tomorrow 20.03: www.cebra-events.org/call-for-pap...
March 19, 2025 at 8:51 AM
Submission deadline for #CEBRA25 is tomorrow 20.03: www.cebra-events.org/call-for-pap...
Please share! We are happy to announce up to 4 Adviser positions (Secondment). The BIS Innovation Hub Eurosystem Centre invites applications for Project Lead, Data Engineer, Economist, and Data Scientist.
These roles offer opportunities to (1/4)...
These roles offer opportunities to (1/4)...
March 18, 2025 at 4:49 PM
Please share! We are happy to announce up to 4 Adviser positions (Secondment). The BIS Innovation Hub Eurosystem Centre invites applications for Project Lead, Data Engineer, Economist, and Data Scientist.
These roles offer opportunities to (1/4)...
These roles offer opportunities to (1/4)...
Is there an economic case for decentralization? Below, some takeaways from a paper with Cyril Monnet and Hyun Shin, now available in the JFE: www.sciencedirect.com/science/arti...
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
March 14, 2025 at 9:12 AM
Is there an economic case for decentralization? Below, some takeaways from a paper with Cyril Monnet and Hyun Shin, now available in the JFE: www.sciencedirect.com/science/arti...
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
- Decentralization can provide benefits when validators are chosen from among the system’s users.... (1/3)
Reposted by Raphael Auer
Gain hands-on experience at the heart of global finance: BIS is offering internships (up to 11 months) across the Innovation Hub, Economics, and Banking. These positions are for recent graduates - application deadline is 24.03: www.bis.org/careers/inde...
February 26, 2025 at 1:05 PM
Gain hands-on experience at the heart of global finance: BIS is offering internships (up to 11 months) across the Innovation Hub, Economics, and Banking. These positions are for recent graduates - application deadline is 24.03: www.bis.org/careers/inde...
Gain hands-on experience at the heart of global finance: BIS is offering internships (up to 11 months) across the Innovation Hub, Economics, and Banking. These positions are for recent graduates - application deadline is 24.03: www.bis.org/careers/inde...
February 26, 2025 at 1:05 PM
Gain hands-on experience at the heart of global finance: BIS is offering internships (up to 11 months) across the Innovation Hub, Economics, and Banking. These positions are for recent graduates - application deadline is 24.03: www.bis.org/careers/inde...
Reposted by Raphael Auer
It is a special honor to hold the 10th CEBRA Annual Meeting at @harvard.edu and the FRB Boston together with 30 central banks and IFIs:
www.cebra-events.org/call-for-pap...
The event will take place at FRB Boston on August 6 and at HBS on 7-8 Aug. Submission deadline is March 20, 2025....
www.cebra-events.org/call-for-pap...
The event will take place at FRB Boston on August 6 and at HBS on 7-8 Aug. Submission deadline is March 20, 2025....
February 24, 2025 at 3:16 PM
It is a special honor to hold the 10th CEBRA Annual Meeting at @harvard.edu and the FRB Boston together with 30 central banks and IFIs:
www.cebra-events.org/call-for-pap...
The event will take place at FRB Boston on August 6 and at HBS on 7-8 Aug. Submission deadline is March 20, 2025....
www.cebra-events.org/call-for-pap...
The event will take place at FRB Boston on August 6 and at HBS on 7-8 Aug. Submission deadline is March 20, 2025....