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This paper was prepared for presentation at the Carnegie-Mellon Conference on Political Economy, May 1980. We have benefited from useful discussions with Robert Inman and from his extensive comments on this paper.
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Epple, D., Schipper, K. Municipal pension funding: A theory and some evidence. Public Choice 37, 141–178 (1981). https://doi.org/10.1007/BF00124237
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DOI: https://doi.org/10.1007/BF00124237