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What are Corporate Pension Liabilities?

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  • Jeremy I. Bulow

Abstract

Analyses of corporate pension plans often make unstated assumptions about an implicit labor contract. An example of the effect of such an assumption is that many mistakenly believe that if a worker's benefits are tied to final salary, he is protected against inflation until retirement. Also, the value of a worker's claims is often considered to be independent of the status of the firm's pension fund. These “implicit contract†assumptions are examined and questioned. The implications of analyzed pension liabilities in a manner consistent with the analysis of other corporate liabilities are explored.

Suggested Citation

  • Jeremy I. Bulow, 1982. "What are Corporate Pension Liabilities?," The Quarterly Journal of Economics, Oxford University Press, vol. 97(3), pages 435-452.
  • Handle: RePEc:oup:qjecon:v:97:y:1982:i:3:p:435-452.
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    File URL: http://hdl.handle.net/10.2307/1885871
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