当国家违约:法律和历史的教训

Economic commentary Pub Date : 2017-10-12 DOI:10.26509/FRBC-EC-2017016

O. Ergungor

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引用次数: 1

摘要

本评论讨论了州一级严重的财政危机如何影响州公共养老金持有人的利益。根据相关法律、历史先例以及1933年阿肯色州违约后的案例，我认为，尽管存在保护措施，但如果资金耗尽，任何公共退休制度都不能完全免受损害。

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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When States Default: Lessons from Law and History

This Commentary discusses how a severe fiscal crisis at the state level could impact the interests of the state’s public pension holders. Drawing lessons from the relevant laws, historical precedents, and the case of Arkansas after its default in 1933, I argue that in spite of the protections that exist, no public retirement system is completely immune to impairment if the money runs out.

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Economic commentary

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