Pension funds and capital accumulation

Belan, Pascal;Michel, Philippe;Wigniolle, Bertrand
(2001)

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Authors
  • Belan, Pascal
    Author
  • Michel, Philippe
    Author
  • Wigniolle, Bertrand
    Author
Abstract
This note presents a model in which pension funds, by holding a signifiant share of capital assets, can exert a non competitive behavior on labor market. This leads to lower wages and higher capital returns, and can reduce capital accumulation and Long-run welfare.
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Belan, P., Michel, P., & Wigniolle, B. (2001). Pension funds and capital accumulation (CORE Discussion Papers 2001/26). https://hdl.handle.net/2078.5/25669