iiinova — where your digital self keeps evolving

Raphael Auer @raphauer.bsky.social · 20/07/2026

Just out - in a BIS Bulletin w Iñaki Aldasoro, Jon Frost, Fernando Perez-Cruz, we discuss the implications of frontier AI models' increasing cyber attack & defense capabilities: www.bis.org/publ/bisbull...

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Raphael Auer @raphauer.bsky.social · 13/03/2026

CfP - deadline March 15; our BIS, @cepr.org Cebra and @unibas.ch conference seeks papers on inflation heterogeneity - consumers, firms, and shocks - and the implications for aggregate inflation and policy: www.bis.org/events/26052...

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Raphael Auer @raphauer.bsky.social · 23/02/2026

New report outlining how we used text embeddings to categorize >30 million products of the ECB's daily price dataset in a cost-efficient manner. The goal is to turn billions of prices into snapshots of current inflation: www.bis.org/publ/othp109...

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Raphael Auer @raphauer.bsky.social · 17/09/2025

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...

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Raphael Auer @raphauer.bsky.social · 09/07/2025

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!

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Raphael Auer @raphauer.bsky.social · 07/07/2025

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)

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Raphael Auer @raphauer.bsky.social · 15/05/2025

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...

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Raphael Auer @raphauer.bsky.social · 08/05/2025

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...

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Raphael Auer @raphauer.bsky.social · 02/05/2025

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...

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Raphael Auer @raphauer.bsky.social · 24/04/2025

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....

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Raphael Auer @raphauer.bsky.social · 19/03/2025

Submission deadline for #CEBRA25 is tomorrow 20.03: www.cebra-events.org/call-for-pap...

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Raphael Auer @raphauer.bsky.social · 18/03/2025

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)...

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Raphael Auer @raphauer.bsky.social · 14/03/2025

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)

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Raphael Auer @raphauer.bsky.social · 26/02/2025

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...

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Raphael Auer @raphauer.bsky.social · 24/02/2025

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....

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Raphael Auer @raphauer.bsky.social · 21/02/2025

The risk that quantum computers will soon be able to break widely used financial encryption is too significant to ignore. We recently held an event to discuss this threat and how to respond to it: www.bis.org/events/25021... Thanks to the...

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Raphael Auer @raphauer.bsky.social · 13/02/2025

Instant global payments, securely settled in the safest form of money. Read our brand-new report: www.bis.org/publ/othp91.... Project Rialto is tackling key challenges in the retail cross-border payments market by integrating cross-border private sector instant payment systems with...

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Raphael Auer @raphauer.bsky.social · 25/01/2025

Who stands to win—or lose—as AI keeps advancing? Intuitively, if AI is good at bookkeeping, it helps a medical doctor focus on examinations—but risks the job of accountants. This paper generalizes the idea and investigates the overall impact on the labor market. more: cepr.org/publications...

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Raphael Auer @raphauer.bsky.social · 24/01/2025

New paper discussing privacy-enhancing technologies in payments: www.bis.org/publ/work124... (w Böhme, @pulpspy.bsky.social, and Demirag)

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Raphael Auer @raphauer.bsky.social · 23/01/2025

In contrast, in emerging markets, where inflation is on average higher and market shares are less concentrated, granular contributions play a more modest role. Paper link: bis.org/publ/work1240.… (5/5)

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Raphael Auer @raphauer.bsky.social · 23/01/2025

During the 2021–22 post-Covid inflation surge, the influence of granular forces intensified, with roughly one third of the surge traceable to large-firm dynamics. (4/5)

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Raphael Auer @raphauer.bsky.social · 23/01/2025

During 2005-2020, -41% of inflation variance in advanced economies can be accounted by firm-level granularities - 26 percentage points are attributable to the 10 largest firms alone - Granularities at the level of product categories explain an additional 15% of variance (3/5)

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Raphael Auer @raphauer.bsky.social · 23/01/2025

It’s surprising how much large firms influence aggregate inflation dynamics - even during the recent inflation surge. ⬇️🧵 on a new paper bis.org/publ/work1240.… with @SEAlvarezBlaser @LeinSarahMarit and Andrei Levchenko (1/5)

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