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Prof. Dr. Christine Trampusch

Municipalities and their Expectations on Pay-Offs of Swap Deals (MUSWAPS)

Project description

Over the past decades the use of swaps to cope with interest-rate and currency-rate risks has grown tremendously in the debt management of local governments. Through comparative case studies of German, British, and U.S. municipalities, this project seeks to explore systematically the expectations city treasurers have regarding swaps and how these expectations have changed over time. Drawing upon insights from political science, behavioural economics, and economic sociology, we will examine how cognitive mechanisms, professions, and historical experiences shape the formation of expectations. The insights generated through this project will contribute to the debates about the changing state-financial-market relationship and to the development of a theory of expectation formation. The time period of the project ranges from the early 1980s until today.

DFG Project, 02/2016 - 01/2019 (Project within PP 1859, Experiences and Expectations: Historical Foundations of Economic Behaviour)

New Publication: SPP1859 Working Paper No 4
Daniel/Neubert/Orban, Fictional expectations and the global media in the Greek debt crisis.

Online version here.

New publication out by Christine Trampusch, Agnes Orban and Florian Fastenrath: From Economic Gains to Social Losses - How Stories Shape Expectations in the Case of German Municipal Finance

MPIfG discussion paper 17/20, online version here

Project leader: Prof. Dr. Christine Trampusch
Postdoctoral researcher: Agnes Orban (Dipl. Soz.) (currently on maternal leave)
Doctoral researchers: Florian Fastenrath (Dipl. Volksw.), Armin Mertens (M.A.)
Student research assistants: Hagen Kruse, Rebecca Wangemann

Further information can be retrieved via the official DFG project page