Public pension accounting rules and economic outcomes
成果类型：
Article
署名作者：
Naughton, James; Petacchi, Reining; Weber, Joseph
署名单位：
Northwestern University; Massachusetts Institute of Technology (MIT)
刊物名称：
JOURNAL OF ACCOUNTING & ECONOMICS
ISSN/ISSBN：
0165-4101
DOI：
10.1016/j.jacceco.2015.02.002
发表日期：
2015
关键词：
摘要：
We find a negative association between a state's fiscal condition and the use of discretion in applying Governmental Accounting Standards Board (GASB) rules to understate pension funding gaps. We also find that the use of discretion is negatively associated with states' decisions to increase taxes and cut spending. In addition, we find that the funding gap understatement is positively associated with higher future labor costs. Importantly, this association is primarily attributable to the GASB methodology, which systematically understates the funding gap. This suggests that the GASB approach is associated with policy choices that have the potential to exacerbate fiscal stress. (C) 2015 Elsevier B.V. All rights reserved.
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