Pension Coverage and Borrowing Constraints
利用1983年消费者金融调查数据，以借贷约束状态衡量工人贴现率，发现受借贷约束的工人更少参与养老金计划，且该效应仅对固定收益计划显著。
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.