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Cutback strategies in state pension ...

Chen, Gang.

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Cutback strategies in state pension systems under state fiscal stress.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Cutback strategies in state pension systems under state fiscal stress./
Author:	Chen, Gang.
Description:	217 p.
Notes:	Source: Dissertation Abstracts International, Volume: 74-09(E), Section: A.
Contained By:	Dissertation Abstracts International74-09A(E).
Subject:	Political Science, Public Administration. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3563139
ISBN:	9781303112232

Cutback strategies in state pension systems under state fiscal stress.
Chen, Gang.

Cutback strategies in state pension systems under state fiscal stress. - 217 p.

Source: Dissertation Abstracts International, Volume: 74-09(E), Section: A.

Thesis (Ph.D.)--University of Nebraska at Omaha, 2013.

This dissertation applies a theoretical framework to analyze cutback strategies in state pension systems. This study focuses on four cutback strategies: cutting pension benefits, reducing employer contributions, increasing the investment risk, and adopting a higher rate of return assumption. The influence of state fiscal stress on these strategies is examined using empirical models. This research also explores the influences of formal authority and interest groups on those cutback strategies.

ISBN: 9781303112232Subjects--Topical Terms:

1017438
Political Science, Public Administration.

Cutback strategies in state pension systems under state fiscal stress.
LDR:02861nam a2200289 4500 001 1962210
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020 $a 9781303112232
035 $a (MiAaPQ)AAI3563139
035 $a AAI3563139
040 $a MiAaPQ $c MiAaPQ
100 1 $a Chen, Gang. $3 1257949
245 1 0 $a Cutback strategies in state pension systems under state fiscal stress.
300 $a 217 p.
500 $a Source: Dissertation Abstracts International, Volume: 74-09(E), Section: A.
500 $a Adviser: Carol Ebdon.
502 $a Thesis (Ph.D.)--University of Nebraska at Omaha, 2013.
520 $a This dissertation applies a theoretical framework to analyze cutback strategies in state pension systems. This study focuses on four cutback strategies: cutting pension benefits, reducing employer contributions, increasing the investment risk, and adopting a higher rate of return assumption. The influence of state fiscal stress on these strategies is examined using empirical models. This research also explores the influences of formal authority and interest groups on those cutback strategies.
520 $a To measure state fiscal stress, six financial indicators are constructed and used in fixed-effect and random-effect estimations. The principal components analysis method is used to construct two fiscal stress indexes, which are then used in panel estimations and a three-stage least squares estimation. A spline regression model and a dynamic panel model are used to capture nonlinear relationships and lagged effects.
520 $a The results show that fiscal stress has multiple dimensions, and these dimensions have different influences on pension decisions. When a state faces fiscal stress, state pension systems are more likely to reduce pension benefits, decrease employer's contributions, use more conservative investment strategies, and adopt a higher rate of return assumption. Empirical evidence also shows that formal authority and employee unions have effects on the adoption of cutback strategies. When the formal authority has more political resources, it tends to reduce pension benefits, reduce contributions, and use more optimistic rate of return assumptions. State governments with stronger employee unions are more likely to have higher pension benefits, more aggressive investment strategies, and more optimistic rate of return assumptions. This dissertation makes significant contributions to the literature of fiscal stress, cutback management, and state pension management. The findings in this study also generate new thinking on pension policies in the public sector.
590 $a School code: 1060.
650 4 $a Political Science, Public Administration. $3 1017438
690 $a 0617
710 2 $a University of Nebraska at Omaha. $b Public Administration. $3 2098249
773 0 $t Dissertation Abstracts International $g 74-09A(E).
790 $a 1060
791 $a Ph.D.
792 $a 2013
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3563139