Volume 30, Number 4 (Fall) 1995
Curme, Michael A., and William E. Even. 1995. "Pension Coverage and Borrowing Constraints." Journal of Human Resources 30(4):701-712.
Using data from the 1983 Survey of Consumer Finances and taking a measure of borrowing constraint status as an indication of a worker's discount rate, we find evidence that borrowing-constrained workers are less likely to be covered by a pension plan, and that the borrowing constraint effect is significant only for defined benefit plans.
Michael A. Curme is an Associate Professor of economics and a Research Associate at the Center for Pension and Retirement Research at Miami University. William E. Even is a Professor of economics and an Associate Director of the Center for Pension and Retirement Research at Miami University. The authors gratefully acknowledge the comments of the referees, David Cleeton, Bill Hutchinson, Richard Ippolito, David Macpherson, Mark McBride, Prosper Raynold, and participants at the Conference on Current pension Policy Issues at Miami University. The data used in this article can be obtained from June 1996 through June 1999 from William Even, Department of economics, Miami University, 208 Laws Hall, Oxford, Ohio 45056.
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