The Political Economy of Underfunded Municipal Pension Plans
---- Acknowledgments ----
The views expressed here are those of the authors and do not necessarily represent the views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. Thanks to David Albouy, Dan Bernhardt, Steve Coate, Victor Rios-Rull, and seminar participants at various institutions and conferences for helpful comments. Sieg acknowledges financial support from the National Science Foundation (SES-0958705). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.