The impact of budget stabilization funds on state pension contributions

Research output: Contribution to journalArticle

Abstract

Despite the shortfalls in public employee pension funds, there is little known about the effect of fiscal institutions on pension funding. This paper focuses attention on the link between pension contributions and budget stabilization funds (BSFs) over the period 1997-2008. It employs the Blundell-Bond (1998) estimator in order to address the concern that the deposit and withdrawal rules that drive the management of BSFs may be endogenous to state pension contributions. Empirical results suggest that BSFs with strict deposit rules are associated with higher pension contributions, while strict withdrawal rules are associated with lower contributions.

Original languageEnglish (US)
Pages (from-to)55-74
Number of pages20
JournalPublic Budgeting and Finance
Volume33
Issue number3
DOIs
StatePublished - Sep 2013

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pension
stabilization
budget
withdrawal
pension fund
funding
employee
Pensions
Stabilization
management
Deposits

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics
  • Public Administration

Cite this

The impact of budget stabilization funds on state pension contributions. / St.Clair, Travis.

In: Public Budgeting and Finance, Vol. 33, No. 3, 09.2013, p. 55-74.

Research output: Contribution to journalArticle

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