The Importance of Pension Data for Municipal and State Creditor Decisions: Replication and Extensions
Posted: 12 Jul 2014
Date Written: Fall 1985
In this paper, we examine the importance of the Bureau of Census' pension information for both municipal (city) and state borrowing costs in the new issue (primary) market using a variable (computed from the Bureau of Census data) which has been found to be correlated with the amount of unfunded pension liabilities. We find this variable to have explanatory power for state but not for municipal (city) creditor decisions.
Keywords: state and municipal pensions, borrowing costs
JEL Classification: M41
Suggested Citation: Suggested Citation