Working paper series

Philosophers Mint Working Papers

The working paper series of Philosophers Mint — numbered, source-anchored research in monetary economics, financial regulation and the philosophy of money, circulated to elicit comment and discussion.

Published irregularly since June 2026. Indexed in RePEc, IDEAS and EconPapers as RePEc:pmt:wpaper; every paper also carries an SSRN DOI. Author: Allan Pedersen — ORCID iD iconORCID 0009-0008-2373-6965 · RePEc author page · SSRN author page · Google Scholar.

Working paper · No 6 · PDF Circulation or Category? A Null Result on the Boundary of the Lender of Last Resort A blind-coded test of whether central-bank rescue tracks position in the monetary plumbing rather than size. It doesn't: the apparent signal dissolves under three disciplines, and what remains is too-big-to-fail plus the capacity to act.
Working paper · No 5 · PDF Money or Credit, Operationalised: A Comment on Digital Money (The Future of Banking 8) The eighth Future of Banking report gets digital money right: judge the instrument by the institution behind it. Five refinements from MiCA's engine room and the eurodollar's history make that diagnosis operational.
Working paper · No 4 · PDF Value Coverage: A Measurement Framework for Technology Investment Booms Is the AI boom a bubble? Three measurable quantities - private coverage, social coverage, financing fragility - replace the shouting match, with a live open dashboard.
Working paper · No 3 · PDF Which Coherent Corner? An Options Appraisal for Europe's Stablecoin Choice Three coherent designs, narrow money, bank money, a public anchor, weighed against six EU objectives, with one unconditional conclusion.
Working paper · No 2 · PDF Money or Credit? MiCA's Stablecoin Hybrid and the Direction of the 2026 Review MiCA never decided whether a fiat-backed stablecoin is money or a bank. The 2026 review must choose one coherent design, not fine-tune an incoherent middle.
Working paper · No 1 · PDF What the Rule-Book Cannot See Codified doctrine, the epistemic immune system, and the distribution of supervisory attention

Philosophers Mint Working Papers

Published by Philosophers Mint
Chemin du Creux de Corsy 7
1093 La Conversion (Lutry), Vaud
Switzerland

Editor: Allan Pedersen
ORCID 0009-0008-2373-6965 · RePEc ppe1119
allan@philosophersmint.com
philosophersmint.com/papers

Series numbered No. 1–, published irregularly since June 2026. Indexed in RePEc, IDEAS and EconPapers as RePEc:pmt:wpaper.

Papers are circulated to elicit comment and discussion. Views expressed are those of the author. Individual papers remain the copyright of their authors.