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U.S. Municipal Yields and Unfunded State Pension Liabilities

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  • Lekniute, Z.
  • Beetsma, R.M.W.J.

    (Tilburg University, School of Economics and Management)

  • Ponds, Eduard

    (Tilburg University, School of Economics and Management)

Abstract

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Suggested Citation

  • Lekniute, Z. & Beetsma, R.M.W.J. & Ponds, Eduard, 2017. "U.S. Municipal Yields and Unfunded State Pension Liabilities," Other publications TiSEM 8d75122f-0eb8-4517-af54-8, Tilburg University, School of Economics and Management.
    • Handle: RePEc:tiu:tiutis:8d75122f-0eb8-4517-af54-8ffb1773dbab
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    References listed on IDEAS

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    1. Brown, Jeffrey R. & Pennacchi, George G., 2016. "Discounting pension liabilities: funding versus value," Journal of Pension Economics and Finance, Cambridge University Press, vol. 15(3), pages 254-284, July.
    2. Hastie, K. Larry, 1972. "Determinants of Municipal Bond Yields," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 7(3), pages 1729-1748, June.
    3. Poghosyan, Tigran, 2014. "Long-run and short-run determinants of sovereign bond yields in advanced economies," Economic Systems, Elsevier, vol. 38(1), pages 100-114.
    4. Mr. Manmohan S. Kumar & Mr. Emanuele Baldacci, 2010. "Fiscal Deficits, Public Debt, and Sovereign Bond Yields," IMF Working Papers 2010/184, International Monetary Fund.
    5. James E. Alt & David Dreyer Lassen & Shanna Rose, 2006. "The Causes of Fiscal Transparency: Evidence from the American States," EPRU Working Paper Series 06-02, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    6. Eduard Ponds & Clara Severinson & Juan Yermo, 2011. "Funding in Public Sector Pension Plans - International Evidence," NBER Working Papers 17082, National Bureau of Economic Research, Inc.
    7. Reck, Jacqueline L. & Wilson, Earl R., 2006. "Information transparency and pricing in the municipal bond secondary market," Journal of Accounting and Public Policy, Elsevier, vol. 25(1), pages 1-31.
    8. Alicia H. Munnell & Laura Quinby, 2012. "Legal Constraints on Changes in State and Local Pensions," State and Local Pension Plans Briefs ibslp25, Center for Retirement Research, revised Aug 2012.
    9. Bohn, Henning & Inman, Robert P., 1996. "Balanced-budget rules and public deficits: evidence from the U.S. states," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 45(1), pages 13-76, December.
    10. Alicia H. Munnell & Laura Quinby, 2012. "Legal Constraints on Changes in State and Local Pensions," Issues in Brief ibslp25, Center for Retirement Research, revised Aug 2012.
    11. 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.
    12. Ari Aisen & David Hauner, 2013. "Budget deficits and interest rates: a fresh perspective," Applied Economics, Taylor & Francis Journals, vol. 45(17), pages 2501-2510, June.
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    Cited by:

    1. Nakhmurina, Anya, 2018. "Does Fiscal Monitoring Make Better Governments? Evidence from US Municipalities," Working Papers 284, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.

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