The Political Economy of Underfunded Municipal Pension Plans
收藏NBER2016-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22321
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资源简介：
This paper analyzes the determinants of underfunding of local government's pension funds using a politico-economic overlapping generations model. We show that a binding downpayment constraint in the housing market dampens capitalization of future taxes into current land prices. Thus, a local
提供机构：
美国国家经济研究局
创建时间：
2016-06-01
