I study how financial technology reshapes competition among banks. I exploit quasi-random
variation in exposure to the introduction of Brazil's Pix, an instant payment system, and show …

This paper uses transaction-level data across millions of accounts to identify cryptocurrency
investors and evaluate how fluctuations in individual crypto wealth affect household …

Crowdfunding is an increasingly popular way to raise emergency funding after disasters.
However, for victims of a recent major Colorado wildfire, we find that crowdfunding raised …

In this paper, we employ an instrument and individual-level banking data in Brazil to
examine the effects of a novel payment technology, Pix, on the use of other payment …

We develop and make available firm-level metrics regarding a key component of intangible
capital—firms' customer bases—using household transaction data. Linking household …

Gifts and loans from friends and family play a largely unstudied informal insurance role in
highincome countries, making it difficult to assess their implications for social insurance …

Using firm-linked transaction data we document that firms with a higher percentage of online
sales (online presence) have lower sensitivity to aggregate shocks. For the average firm in …

We assess the network effect of Zelle-a real-time money transfer platform on banking. First,
Zelle penetration that banks face positively affects banks' decision to partner with Zelle …

We study the consequences of substitution between cash and digital currency on banks'
lending behavior. Leveraging an unexpected tax on Mobile Money in Uganda and using an …

Financial intermediaries have a special role in deposit and credit markets. This dissertation
presents three essays exploring the relationship between banks, financial technology …