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Kaufmann, Daniel

Nom
Kaufmann, Daniel
Affiliation principale
Site web
Fonction
Professeur ordinaire
Email
daniel.kaufmann@unine.ch
Identifiants
https://libra.unine.ch/handle/123456789/1129
_
0000-0003-3260-0660

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  • Publication
    Accès libre
    Private money and money market integration: the role of payments infrastructure in 19th century Switzerland
    (Neuchâtel : IRENE, 2024-09)
    Kaufmann, Daniel 
    ;
    Rebecca Stuart
    Using newly collected discount rate data for six Swiss cities, we find no evidence of increasing integration during a 30-year period of lightly regulated free banking. We attribute this to two structural issues: banks had incentives to protect their local monopolies, and the inherent instability of free banking meant that there was always a risk (which varied across banks) of a bank run. We use a novel counterfactual to show that these risks increased discount rate dispersion, and argue that as a result, public regulation of payments infrastructure was necessary for money market integration.
  • Publication
    Accès libre
    A daily fever curve for the Swiss economy
    (2020-7-9)
    Kaufmann, Daniel 
    ;
    Burri, Marc 
    Because macroeconomic data is published with a substantial delay, assessing the health of the economy during the rapidly evolving COVID-19 crisis is challenging. We develop a fever curve for the Swiss economy using publicly available daily financial market and news data. The indicator can be computed with a delay of 1 day. Moreover, it is highly correlated with macroeconomic data and survey indicators of Swiss economic activity. Therefore, it provides timely and reliable warning signals if the health of the economy takes a turn for the worse.
  • Publication
    Accès libre
    A daily fever curve for the Swiss economy
    (Neuchâtel Université de Neuchâtel Institut de recherches économiques, 2020)
    Burri, Marc 
    ;
    Kaufmann, Daniel 
    Because macroeconomic data is published with a substantial delay, assessing the health of the economy during the rapidly evolving Covid-19 crisis is challenging. We develop a fever curve for the Swiss economy using publicly available daily financial market and news data. The indicator can be computed with a delay of one day. Moreover, it is highly correlated with macroeconomic data and survey indicators of Swiss economic activity. Therefore, it provides timely and reliable warning signals if the health of the economy takes a turn for the worse.