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| Author: | Klumpes, P. J. M. |
| Title: | Determinants of Government Underfunded Public Pension Liabilities in the OECD |
| Journal: | European Accounting Review
2003 : VOL. 12:3, p. 489-514 |
| Index terms: | PENSIONS PUBLIC SECTOR OECD SOCIAL SECURITY LIABILITIES |
| Language: | eng |
| Abstract: | Underfunded government liabilities for public pensions constitutes a major expenditure in the management of social programmes in many countries, but to date has not attracted much attention from accountants as it does not easily fit within an accrual-based accounting system. This paper discusses major measurement problems associated with this liability and then examines determinants of variations in projected flow-based funding patterns among OECD governments. Alternative 'behavioural persistence' and 'regression to the mean' hypotheses about the determinants of underfunding practices are formulated and tested using an OECD data set describing the financial and socio-economic characteristics of government-sponsored public pension systems in these countries. |
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