An analysis of risk-taking behavior for public defined benefit pension plans
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Jacob A. Bikker & Dirk W. G. A. Broeders & David A. Hollanders & Eduard H. M. Ponds, 2012.
"Pension Funds’ Asset Allocation and Participant Age: A Test of the Life-Cycle Model,"
Journal of Risk & Insurance,
The American Risk and Insurance Association, vol. 79(3), pages 595-618, September.
- Jacob A. Bikker & Dirk W.G.A. Broeders & David A. Hollanders & Eduard H.M. Ponds, 2009. "Pension funds' asset allocation and participant age: a test of the life-cycle model," DNB Working Papers 223, Netherlands Central Bank, Research Department.
- Eaton, Tim V. & Nofsinger, John R., 2004. "The effect of financial constraints and political pressure on the management of public pension plans," Journal of Accounting and Public Policy, Elsevier, vol. 23(3), pages 161-189.
- Dwyer, Peggy D. & Gilkeson, James H. & List, John A., 2002.
"Gender differences in revealed risk taking: evidence from mutual fund investors,"
Elsevier, vol. 76(2), pages 151-158, July.
- Peggy Dwyer & James Gilkeson & John List, 2002. "Gender differences in revealed risk taking: evidence from mutual fund investors," Natural Field Experiments 00510, The Field Experiments Website.
- Mitchell, Olivia S & Smith, Robert S, 1994. "Pension Funding in the Public Sector," The Review of Economics and Statistics, MIT Press, vol. 76(2), pages 278-290, May.
- Robert Novy-Marx & Joshua D. Rauh, 2009. "The Liabilities and Risks of State-Sponsored Pension Plans," Journal of Economic Perspectives, American Economic Association, vol. 23(4), pages 191-210, Fall.
- Dennis Epple & Katherine Schipper, 1981. "Municipal pension funding: A theory and some evidence," Public Choice, Springer, vol. 37(1), pages 141-178, January.
- Hwang Min & Quigley John M. & Woodward Susan E., 2005. "An Index For Venture Capital, 1987-2003," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 4(1), pages 1-45, November.
- Steven N. Kaplan & Antoinette Schoar, 2005.
"Private Equity Performance: Returns, Persistence, and Capital Flows,"
Journal of Finance,
American Finance Association, vol. 60(4), pages 1791-1823, August.
- Kaplan, Steve & Schoar, Antoinette, 2004. "Private Equity Performance: Returns, Persistence and Capital Flows," Working papers 4446-03, Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Giertz, J. Fred & Papke, Leslie E., 2007. "Public Pension Plans: Myths and Realities for State Budgets," National Tax Journal, National Tax Association;National Tax Journal, vol. 60(2), pages 305-323, June.
- Bodie, Zvi & Merton, Robert C. & Samuelson, William F., 1992.
"Labor supply flexibility and portfolio choice in a life cycle model,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 16(3-4), pages 427-449.
- Zvi Bodie & Robert C. Merton & William F. Samuelson, 1992. "Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model," NBER Working Papers 3954, National Bureau of Economic Research, Inc.
- Richard B. Freeman, 1985. "Unions, Pensions, and Union Pension Funds," NBER Chapters,in: Pensions, Labor, and Individual Choice, pages 89-122 National Bureau of Economic Research, Inc.
- Jeffrey R. Brown & David W. Wilcox, 2009. "Discounting State and Local Pension Liabilities," American Economic Review, American Economic Association, vol. 99(2), pages 538-542, May.
- Robert Novy‐Marx & Joshua Rauh, 2011. "Public Pension Promises: How Big Are They and What Are They Worth?," Journal of Finance, American Finance Association, vol. 66(4), pages 1211-1249, August.
- Aggarwal, Raj & Goodell, John W., 2013. "Political-economy of pension plans: Impact of institutions, gender, and culture," Journal of Banking & Finance, Elsevier, vol. 37(6), pages 1860-1879.
- Ippolito, Richard A, 1985. "The Economic Function of Underfunded Pension Plans," Journal of Law and Economics, University of Chicago Press, vol. 28(3), pages 611-651, October.
- Weller, Christian E. & Wenger, Jeffrey B., 2009.
"Prudent investors: the asset allocation of public pension plans,"
Journal of Pension Economics and Finance,
Cambridge University Press, vol. 8(04), pages 501-525, October.
- Christian E. Weller & Jeffrey Wenger, 2008. "Prudent Investors: The Asset Allocation of Public Pension Plans," Working Papers wp175, Political Economy Research Institute, University of Massachusetts at Amherst.
- Joshua D. Rauh, 2009. "Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans," Review of Financial Studies, Society for Financial Studies, vol. 22(7), pages 2487-2533, July.
- Jin, Li & Merton, Robert C. & Bodie, Zvi, 2006.
"Do a firm's equity returns reflect the risk of its pension plan?,"
Journal of Financial Economics,
Elsevier, vol. 81(1), pages 1-26, July.
- Li Jin & Robert Merton & Zvi Bobie, 2004. "Do a Firm's Equity Returns Reflect the Risk of Its Pension Plan?," NBER Working Papers 10650, National Bureau of Economic Research, Inc.
- Coronado, Julie L. & Engen, Eric M. & Knight, Brian, 2003. "Public Funds and Private Capital Markets: The Investment Practices and Performance of State and Local Pension Funds," National Tax Journal, National Tax Association;National Tax Journal, vol. 56(3), pages 579-594, September.
- Inman, Robert P., 1982. "Public employee pensions and the local labor budget," Journal of Public Economics, Elsevier, vol. 19(1), pages 49-71, October.
CitationsCitations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
- Andreas Hoepner & Lisa Schopohl, 2015. "Red versus Blue: Do Political Dimensions Influence the Investment Preferences of State Pension Funds?," ICMA Centre Discussion Papers in Finance icma-dp2015-06, Henley Business School, Reading University.
- repec:eee:jimfin:v:84:y:2018:i:c:p:23-41 is not listed on IDEAS
- Martin Boyer & Franca Glenzer, 2016. "Pensions, annuities, and long-term care insurance: On the impact of risk screening," Cahiers de recherche 1603, Chaire de recherche Industrielle Alliance sur les enjeux économiques des changements démographiques.
- Timothy C. Irwin, 2015. "Defining The Government'S Debt And Deficit," Journal of Economic Surveys, Wiley Blackwell, vol. 29(4), pages 711-732, September.
- Platanakis, Emmanouil & Sutcliffe, Charles, 2016.
"Pension scheme redesign and wealth redistribution between the members and sponsor: The USS rule change in October 2011,"
Insurance: Mathematics and Economics,
Elsevier, vol. 69(C), pages 14-28.
- Emmanouil Platanakis & Charles Sutcliffe, 2015. "Pension Scheme Redesign and Wealth Redistribution Between the Members and Sponsor: The USS Rule Change in October 2011," ICMA Centre Discussion Papers in Finance icma-dp2015-05, Henley Business School, Reading University.
- Wang, Yong & Mao, Connie X., 2015. "Shareholder activism of public pension funds: The political facet," Journal of Banking & Finance, Elsevier, vol. 60(C), pages 138-152.
- Boubaker, Sabri & Gounopoulos, Dimitrios & Nguyen, Duc Khuong & Paltalidis, Nikos, 2015. "Assessing the effects of unconventional monetary policy on pension funds risk incentives," MPRA Paper 73398, University Library of Munich, Germany, revised Aug 2016.
- Boubaker, Sabri & Gounopoulos, Dimitrios & Nguyen, Duc Khuong & Paltalidis, Nikos, 2017. "Assessing the effects of unconventional monetary policy and low interest rates on pension fund risk incentives," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 35-52.
More about this item
KeywordsPublic pension funds; Investment risk; State fiscal constraints; Risk transfer; Government accounting;
- G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
- H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
StatisticsAccess and download statistics
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbfina:v:40:y:2014:i:c:p:403-419. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/jbf .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.