The Impact of Budget Stabilization Funds on State Pension Contributions

IF 0.9 Q4 PUBLIC ADMINISTRATION

Public Budgeting and Finance Pub Date : 2013-01-01 DOI:10.1111/j.1540-5850.2013.12014.x

Travis St. Clair

引用次数: 6

Abstract

Despite the shortfalls in public employee pension funds, there is little known about the effect of fiscal institutions on pension funding. This paper focuses attention on the link between pension contributions and budget stabilization funds (BSFs) over the period 1997–2008. It employs the Blundell–Bond (1998) estimator in order to address the concern that the deposit and withdrawal rules that drive the management of BSFs may be endogenous to state pension contributions. Empirical results suggest that BSFs with strict deposit rules are associated with higher pension contributions, while strict withdrawal rules are associated with lower contributions.

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预算稳定基金对国家养老金缴款的影响

尽管公共雇员养老基金存在缺口，但财政机构对养老基金的影响却鲜为人知。本文主要关注1997-2008年期间养老金缴款与预算稳定基金(bsf)之间的联系。它采用了Blundell-Bond(1998)估计器，以解决驱动bsf管理的存取款规则可能是国家养老金缴款内生的问题。实证结果表明，严格的存款规则与较高的养老金缴款相关，而严格的取款规则与较低的养老金缴款相关。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Public Budgeting and Finance PUBLIC ADMINISTRATION-

CiteScore

2.10

自引率

14.30%

发文量

期刊介绍： Public Budgeting & Finance serves as a forum for the communication of research and experiences on all facets of government finance and provides meaningful exchange between research from universities, private and nonprofit research institutes, practitioners in public financial markets, government agencies, and the experience of those who practice government budgeting and finance. Researchers, practitioners, and teachers of applied government finance turn to Public Budgeting & Finance to find understandable, reliable, and thoughtful analysis of issues important in the field. The content of the journal spans the spectrum of budget process and policy and financial management, is never limited to one level of government or even to one country, and always even-handedly crosses disciplines and approaches in applied government finance.