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Shrouded Costs of Government: The Political Economy of State and Local Public Pensions
National Bureau of Economic Research; purchase required for full document Link to more items from this source
Apr. 22, 2013
"Central control over dispersed municipal pensions has two offsetting effects on pension generosity: more state-level media attention helps taxpayers better understand pension costs, which reduces pension generosity; but a larger share of public sector workers will live within the jurisdiction, which increases pension generosity. [The authors] discuss pension arrangements in two decentralized states ... and two centralized states ... and find that in these cases, centralization appears to have modestly reduced pension arrangements[.]"

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