The political economy of public pensions
Author(s)
Bibliographic Information
The political economy of public pensions
（Cambridge elements, . Elements in Austrian economics）
Cambridge University Press, 2021
- : pbk
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Note
Includes bibliographical references (p. [58]-76)
Description and Table of Contents
Description
Public pensions in the United States face an impending funding crisis in the wake of the financial crisis and the COVID-19 recession. Many cities and states will struggle to meet these growing obligations without major cuts in government services, reneging on pension promises, or raising taxes. This Element examines the development of the pension crisis through the lens of political economy. We analyze the knowledge and incentive problems inherent in the institutional structure, governance, and accounting of public pensions. We conclude by offering several institutional, governance, and reporting reforms to address the pension funding crisis.
Table of Contents
- 1. Introduction
- 2. Fiscal Illusion
- 3. Governance
- 4. Pension Accounting and Reporting
- 5. Restoring Fiscal Accountability
- 6. Conclusion.
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