Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Report
The effect of state pension cut legislation on bank values
Cohen, Lee; Mehran, Hamid; Tehranian, Hassan; Cornette, Marcia Millon (2014-06-01)
This study provides an empirical analysis of the impact of Wisconsin and Ohio pension cut legislation on values of banks operating in Wisconsin and Ohio, banks operating in other states in which pension cut legislation was being considered as Wisconsin and Ohio went through its legislative process, and all publicly traded U.S. banks. We find that banks doing business in Wisconsin and Ohio experience positive (negative) stock price reactions to announcements that indicate an increased (a decreased) probability of pension cut legislation. The stock price reactions are positively related to the ...
Staff Reports , Paper 679

Working Paper
The role of economic, fiscal, and financial shocks in the evolution of public sector pension funding
Zhao, Bo; Triest, Robert K. (2013-12-27)
Many studies have documented the pervasive underfunding of public sector pension plans in the United States in recent years. The deterioration of the funded status of public pension plans coincided with severe fiscal crises that state and local governments experienced in the 2000s. This development has led to a suspicion that state and local governments have decreased employer pension contributions as a backdoor means of running fiscal deficits. In this paper, the authors investigate the extent to which this phenomenon has occurred. They estimate panel data regressions using the Boston ...
Working Papers , Paper 13-26

Report
State Investment in Higher Education: Effects on Human Capital Formation, Student Debt, and Long-Term Financial Outcomes of Students
Lovenheim, Michael; Gorton, Nicole; Chakrabarti, Rajashri (2020-09-01)
Most public colleges and universities rely heavily on state financial support. As state budgets have tightened in recent decades, appropriations for higher education have declined substantially. Despite concerns expressed by policymakers and scholars that the declines in state support have reduced the return to education investment for public sector students, little evidence exists that can identify the causal effect of these funds on long-run outcomes. We present the first such analysis in the literature using new data that leverages the merger of two rich datasets—consumer credit records ...
Staff Reports , Paper 941

Report
How Do Voters Respond to Welfare vis-à-vis Public Good Programs? An Empirical Test for Clientelism
Bardhan, Pranab; Nath, Anusha; Mookherjee, Dilip; Mitra, Sandip (2020-07-08)
This paper examines allocation of benefits under local government programs in West Bengal, India to isolate patterns consistent with political clientelism. Using household survey data, we find that voters respond positively to private welfare benefits but not to local public good programs, while reporting having benefited from both. Consistent with the voting patterns, shocks to electoral competition induced by exogenous redistricting of villages resulted in upper-tier governments manipulating allocations across local governments only for welfare programs. Through the lens of a hierarchical ...
Staff Report , Paper 605

Report
Pay with Promises or Pay as You Go? Lessons from the Death Spiral of Detroit
Ohanian, Lee E.; Holmes, Thomas J. (2014-07-14)
As part of compensation, municipal employees typically receive promises of future benefits. Motivated by the recent bankruptcy of Detroit, we develop a model of the equilibrium size of a city and use it to analyze how pay-with-promises schemes interact with city growth. The paper examines the circumstances under which a death spiral arises, where cutbacks of city services and increases in taxes lead to an exodus of residents, compounding financial distress. The model is put to work to analyze issues such as the welfare effects of having cities absorb pension risk and how unions affect the ...
Staff Report , Paper 501

Discussion Paper
Developing Inclusive Communities: Challenges and Opportunities for Mixed-Income Housing
Duckworth, Richard; Carpenter, Ann; Lewis Glover, Renée (2017-06-01)
Over the past decade, housing costs have risen faster than incomes. The need for affordable rental housing has well outpaced the number of available units as well as funding allocations at the federal level. Local regulation and land use policies that increase the cost of subsidized, mixed-income housing construction and preservation have contributed to the affordability problem. {{p}} To meet the affordable housing needs in U.S. communities, innovation, creativity, and "out of the box" thinking may be required, particularly as it relates to reducing the rapidly increasing costs of ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2017-1

Working Paper
Are Friends of Schools the Enemies of Equity? The Interplay of Public School Funding Policies and Private External Fundraising
Barrow, Lisa; Sartain, Lauren; Komisarow, Sarah (2023-08)
School districts across the U.S. have adopted funding policies designed to distribute resources more equitably across schools. However, schools are also increasing external fundraising efforts to supplement district budget allocations. We document the interaction between funding policies and fundraising efforts in Chicago Public Schools (CPS). We find that adoption of a weighted-student funding policy successfully reallocated more dollars to schools with high shares of students eligible for free/reduced-price (FRL) lunch, creating a policy-induced per-pupil expenditure gap. Further, almost ...
Working Paper Series , Paper WP 2023-31

Working Paper
State disinvestment in higher education: the impact on public research universities' patent applications
Zhao, Bo (2018-07-01)
While state appropriations are the largest revenue source of the U.S. public university systems, they have declined significantly over the past several decades. Surprisingly, there is little empirical work on the effect of state appropriation cuts on the research productivity of public universities. Helping fill that gap, this paper is the first to examine the role that state appropriations play in public universities? patent production. The results suggest that state appropriation cuts have a negative impact on the number of approved patent applications from public research universities. ...
Working Papers , Paper 19-2

Working Paper
Hospital Billing Regulations and Financial Well-Being: Evidence from California’s Fair Pricing Law
Antwi, Yaa Akosa; Aouad, Marion; Blascak, Nathan (2025-12-04)
We examine the financial consequences of the 2007 California Fair Pricing Law, which places a price ceiling on hospital bills for financially vulnerable individuals. Exploiting cross-sectional variation in exposure to the law, we estimate its impact on individual financial distress. We find that the law reduces the likelihood of incurring non-medical debt in collections by 19.8 percent and the number of non-medical collections by 39 percent for an individual living in a county with average exposure in California. In addition, we find suggestive evidence that the number of delinquent accounts ...
Working Papers , Paper 25-39

Discussion Paper
Mitigating Benefits Cliffs for Low-Income Families: District of Columbia Career Mobility Action Plan as a Case Study
Ilin, Elias; Sanchez, Alvaro (2023-09-26)
The structure of the United States social safety net features the phaseout of public assistance as household income increases, which functions as an effective marginal tax on wage gains and is commonly referred to as a "benefits cliff." This presents a disincentive for some low-income workers, especially those with children, to accept higher-paying jobs or promotions. Workforce development programs focused on helping low-income workers must contend with the challenges that benefits cliffs present to the career advancement of their clients. In this paper, we describe the overall structure of ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2023-01

show more (58)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords