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Public Pension Promises: How Big Are They and What Are They Worth?

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  • ROBERT NOVY‐MARX
  • JOSHUA RAUH
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    Bibliographic Info

    Article provided by American Finance Association in its journal Journal of Finance.

    Volume (Year): 66 (2011)
    Issue (Month): 4 (08)
    Pages: 1211-1249

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    Handle: RePEc:bla:jfinan:v:66:y:2011:i:4:p:1211-1249

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    Cited by:
    1. Mark Skidmore, 2014. "Housing Affordability: Lessons from the United States," Treasury Working Paper Series 14/11, New Zealand Treasury.
    2. Hasan U. Altiok & Glenn P. Jenkins, 2011. "The Fiscal Burden of the Legacy of the Civil Service Pension Systems in Northern Cyprus," Working Papers 1284, Queen's University, Department of Economics.
    3. Robert Novy-Marx & Joshua D. Rauh, 2012. "The Revenue Demands of Public Employee Pension Promises," NBER Working Papers 18489, National Bureau of Economic Research, Inc.
    4. Mohan, Nancy & Zhang, Ting, 2014. "An analysis of risk-taking behavior for public defined benefit pension plans," Journal of Banking & Finance, Elsevier, vol. 40(C), pages 403-419.
    5. Robert Novy-Marx & Joshua D. Rauh, 2012. "Linking Benefits to Investment Performance in US Public Pension Systems," NBER Working Papers 18491, National Bureau of Economic Research, Inc.
    6. David Rosnick & Dean Baker, 2012. "Pension Liabilities: Fear Tactics and Serious Policy," World Economic Review, World Economics Association, vol. 2012(1), pages 4, September.
    7. Jeffrey Clemens & David M. Cutler, 2013. "Who Pays for Public Employee Health Costs?," NBER Working Papers 19574, National Bureau of Economic Research, Inc.
    8. Raimond Maurer & Olivia S. Mitchell & Ralph Rogalla & Ivonne Siegelin, 2014. "Accounting and Actuarial Smoothing of Retirement Payouts in Participating Life Annuities," NBER Working Papers 20124, National Bureau of Economic Research, Inc.
    9. Skidmore, Mark, 2014. "Housing Affordability: Lessons from the United States," Working Paper Series 3422, Victoria University of Wellington, Chair in Public Finance.
    10. John Kiff & Michael Kisser & Mauricio Soto & Stefan E. Oppers, 2012. "The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans," IMF Working Papers 12/170, International Monetary Fund.
    11. Robert Novy-Marx & Joshua D. Rauh, 2012. "Fiscal Imbalances and Borrowing Costs: Evidence from State Investment Losses," American Economic Journal: Economic Policy, American Economic Association, vol. 4(2), pages 182-213, May.
    12. Chalmers, John & Johnson, Woodrow T. & Reuter, Jonathan, 2014. "The effect of pension design on employer costs and employee retirement choices: Evidence from Oregon," Journal of Public Economics, Elsevier, vol. 116(C), pages 17-34.
    13. Dashle Kelley, 2014. "The political economy of unfunded public pension liabilities," Public Choice, Springer, vol. 158(1), pages 21-38, January.
    14. Iqbal Owadally, 2014. "Tail risk in pension funds: an analysis using ARCH models and bilinear processes," Review of Quantitative Finance and Accounting, Springer, vol. 43(2), pages 301-331, August.
    15. Sutirtha Bagchi, 2013. "The Effects of Political Competition on the Funding and Generosity of Public-Sector Pension Plans," 2013 Papers pba941, Job Market Papers.
    16. Edward L. Glaeser, 2012. "Urban Public Finance," NBER Working Papers 18244, National Bureau of Economic Research, Inc.
    17. Robert Clark & Olivia S. Mitchell, 2013. "How Does Retiree Health Insurance Influence Public Sector Employee Saving?," NBER Working Papers 19511, National Bureau of Economic Research, Inc.

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