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- Title
WHAT ARE CORPORATE PENSION LIABILITIES?
- Authors
Bulow, Jeremy I.
- Abstract
Analyses of corporate pension plans often make unstated assumptions about an implicit labor contract. An example of the effect of such an assumption is that many mistakenly believe that if a worker's benefits are tied to final salary, he is protected against inflation until retirement. Also, the value of a worker's claims is often considered to be independent of the status of the firm's pension fund. These "implicit contract" assumptions are examined and questioned. The implications of analyzed pension liabilities in a manner consistent with the analysis of other corporate liabilities are explored.
- Subjects
PRICE inflation; LABOR contracts; PENSION trusts; PENSIONS; WAGES; RETIREMENT; LABOR laws
- Publication
Quarterly Journal of Economics, 1982, Vol 97, Issue 3, p435
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1885871