FROM HISTORY.COM: “On September 22, 1862, President Abraham Lincoln issues a preliminary Emancipation Proclamation, which sets a date for the freedom of more than 3 million enslaved in the United States and recasts the Civil War as a fight against slavery.”
Congratulations to Dr. Daniel Xu, who in collaboration with Ljubinka Andonoska, has just published “Political budget cycle and unfunded pension liabilities in states in the USA” in Public Money & Management.
Abstract: By using panel data for the period 2006–2019 and dynamic models, this article examines the relation between state pension funding ratio and gubernatorial elections, controlling for a set of fiscal institutions, fiscal health indicators, and economic and political factors. The findings suggest that the political budget cycle is associated with funding state employees’ pensions. This article contributes to the academic literature on pension funding by providing empirical evidence from the USA states.