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Public Pension Governance And Asset Allocation

Author

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  • Matt Dobra

Abstract

This paper analyses the relationship between governance, asset allocation, and risk among state and local government-operated pension systems in the United States. It is argued that governance influences investment decisions and risk profiles of public sector pension systems, creating the potential for agency problems to exist between decision makers, plan members, and taxpayers.

Suggested Citation

  • Matt Dobra, 2008. "Public Pension Governance And Asset Allocation," Monash Economics Working Papers 14/08, Monash University, Department of Economics.
    • Handle: RePEc:mos:moswps:2008-14
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    File URL: http://www.buseco.monash.edu.au/eco/research/papers/2008/1408publicdobra.pdf
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    Cited by:

    1. Trianti, Nikoletta, 2015. "Portfolio Management in Public Pension Reserve Funds/Gestión de carteras en los Fondos de Reserva de las Pensiones Públicas," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 33, pages 985-1008, Septiembr.

    More about this item

    Keywords

    public pension governance; portfolio management.;

    JEL classification:

    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • G2 - Financial Economics - - Financial Institutions and Services

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