Norman Schürhoff Analyzes the Economic Impact of Stress on Payment Systems at CUNEF Universidad
29 May 2026
CUNEF Universidad recently hosted the research seminar “The Economic Impact of Payment System Stress: Evidence from Russia,” delivered by Professor Norman Schürhoff of the University of Lausanne, an internationally recognized scholar in the field of finance. The research paper that formed the basis of his presentation, co-authored with Dmitry Livdan and Vladimir Sokolov, examines what happens when a country’s payment system experiences episodes of stress.
During the session, Schürhoff explored how tensions or disruptions in payment systems can affect real economic activity, using Russia as a natural laboratory for analysis. Russia is of particular interest because it has experienced several episodes of financial stress and restrictions on its payment systems, making it possible to observe more clearly how problems in payment infrastructure are transmitted to the real economy.
Research
Professor Schürhoff’s seminar gave attending faculty members the opportunity to gain deeper insights into the study’s findings, while also helping to refine and further develop specific aspects of the research.
During his presentation, Norman Schürhoff emphasized “CUNEF Universidad strong specialization in banking and finance.” He also praised the academic culture of the institution’s finance research group, describing it as “a young, collaborative, and highly engaged team.” In his view, “this combination fosters the generation of new ideas and the creation of a dynamic and innovative research environment.”
In addition to its academic quality, Schürhoff highlighted the appeal of conducting research activities at an institution located in a city such as Madrid. According to the professor, “the combination of academic excellence and a vibrant urban environment promotes knowledge exchange and collaboration among researchers.”
Seminars such as Professor Schürhoff’s reflect CUNEF Universidad commitment to research excellence and to creating spaces for academic dialogue that drive the advancement of knowledge.
