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Pension Funding and the Economy: Would “Proper” Funding Cost Jobs?

Author

Listed:
  • Dean Baker
  • Nick Buffie

Abstract

This paper calculates the impact on the economy of adopting NM&R funding rules during the last recession. Specifically, it calculates the impact on GDP and employment if state governments had decided to fill the funding gap calculated by NM&R over a 15-year time horizon, as they advocate.

Suggested Citation

  • Dean Baker & Nick Buffie, 2015. "Pension Funding and the Economy: Would “Proper” Funding Cost Jobs?," CEPR Reports and Issue Briefs 2015-22, Center for Economic and Policy Research (CEPR).
  • Handle: RePEc:epo:papers:2015-22
    as

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    File URL: http://cepr.net/documents/pension-funding-2015-11.pdf
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    References listed on IDEAS

    as
    1. repec:nbr:nberch:13342 is not listed on IDEAS
    2. Jeffrey Clemens & Stephen Miran, 2012. "Fiscal Policy Multipliers on Subnational Government Spending," American Economic Journal: Economic Policy, American Economic Association, vol. 4(2), pages 46-68, May.
    3. Vincent Belinga & Constant A Lonkeng Ngouana, 2015. "(Not) Dancing Together; Monetary Policy Stance and the Government Spending Multiplier," IMF Working Papers 15/114, International Monetary Fund.
    4. Christina D. Romer & David H. Romer, 2010. "The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks," American Economic Review, American Economic Association, vol. 100(3), pages 763-801, June.
    5. Antonio Acconcia & Giancarlo Corsetti & Saverio Simonelli, 2014. "Mafia and Public Spending: Evidence on the Fiscal Multiplier from a Quasi-experiment," American Economic Review, American Economic Association, vol. 104(7), pages 2185-2209, July.
    6. Alan J. Auerbach & Yuriy Gorodnichenko, 2012. "Measuring the Output Responses to Fiscal Policy," American Economic Journal: Economic Policy, American Economic Association, vol. 4(2), pages 1-27, May.
    7. Felix Reichling & Charles Whalen, 2012. "Assessing the Short-Term Effects on Output of Changes in Federal Fiscal Policies: Working Paper 2012-08," Working Papers 43278, Congressional Budget Office.
    8. David Rosnick & Dean Baker, 2012. "Pension Liabilities: Fear Tactics and Serious Policy," CEPR Reports and Issue Briefs 2012-02, Center for Economic and Policy Research (CEPR).
    9. Charles J. Whalen & Felix Reichling, 2015. "The Fiscal Multiplier And Economic Policy Analysis In The United States," Contemporary Economic Policy, Western Economic Association International, vol. 33(4), pages 735-746, October.
    10. Emi Nakamura & J?n Steinsson, 2014. "Fiscal Stimulus in a Monetary Union: Evidence from US Regions," American Economic Review, American Economic Association, vol. 104(3), pages 753-792, March.
    11. Christian Weller & Dean Baker, 2005. "Smoothing the waves of pension funding: Could changes in funding rules help avoid cyclical under-funding?," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 8(2), pages 131-151.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    pensions; novy-marx; rauh; employment; gross state product; budget;

    JEL classification:

    • H - Public Economics
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations

    NEP fields

    This paper has been announced in the following NEP Reports:

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