Glaeser, Edward L.; Ponzetto, Giacomo - Barcelona Graduate School of Economics (Barcelona GSE) - 2013
Why do public-sector workers receive so much of their compensation in the form of pensions and other benefits? This … "shrouded," so that public-sector workers better understand their value than ordinary taxpayers, then compensation will be … highly back-loaded. In equilibrium, the welfare of public-sector workers could be improved, holding total public-sector costs …