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A Structural Econometric Approach to Analyzing the Impact of Teacher Pension Reform

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Abstract

The growing fiscal cost of K-12 teacher pension plans and pension-induced labor market distortions have led to calls for teacher pension reforms. Dynamic structural econometric models are a useful way to analyze the fiscal and staffing consequences of current and alternative retirement plans. This paper lays out the benefits of the structural econometric modeling approach for analyzing changes to teacher pension plans, and estimates such a model for Missouri public school teachers. The results are then used to simulate effects of a pension reform on teacher retirement and employer pension costs.

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  • Wei Kong & Shawn Ni, 2021. "A Structural Econometric Approach to Analyzing the Impact of Teacher Pension Reform," Working Papers 2101, Department of Economics, University of Missouri.
    • Handle: RePEc:umc:wpaper:2101
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    More about this item

    Keywords

    teacher retirement; pension reform; structural models;
    All these keywords.

    JEL classification:

    • H75 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Government: Health, Education, and Welfare
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J45 - Labor and Demographic Economics - - Particular Labor Markets - - - Public Sector Labor Markets

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