Shrouded Costs of Government: The Political Economy of State and Local Public Pensions

Edward L. Glaeser and Giacomo A. M. Ponzetto, Retirement Benefits for State and Local Employees: Designing Pension Plans for the Twenty-First Century (Elsevier, Journal of Public Economics, vol. 116 , 2012), chap. 7, https://www.nber.org/books-and-chapters/retirement-benefits-state-and-local-employees-designing-pension-plans-twenty-first-century/shrouded-costs-government-political-economy-state-and-local-public-pensions.