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Financial market lobbies and pension reform

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Author Info

  • Kemmerling, Achim
  • Neugart, Michael

Abstract

We develop a model in which firms in the financial market lobby the government to lower compulsory contributions to the public pension system. Firms lobby in order to increase demand from households for their old-age savings products. We conclude with a comparison of two major pension reforms in Europe exemplifying the influence of financial market lobbies on pension policies.

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Bibliographic Info

Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 25 (2009)
Issue (Month): 2 (June)
Pages: 163-173

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Handle: RePEc:eee:poleco:v:25:y:2009:i:2:p:163-173

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Web page: http://www.elsevier.com/locate/inca/505544

Related research

Keywords: Pension reform Political economy of pension systems Lobbying Financial market Institutional investors;

References

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  22. Besley, Timothy & Coate, Stephen, 2001. "Lobbying and Welfare in a Representative Democracy," Review of Economic Studies, Wiley Blackwell, vol. 68(1), pages 67-82, January.
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Cited by:
  1. Corneo, Giacomo & Keese, Matthias & Schröder, Carsten, 2010. "The effect of saving subsidies on household saving: Evidence from Germany," Discussion Papers 2010/3, Free University Berlin, School of Business & Economics.
  2. Du Cai Cai & Muysken Joan & Sleijpen Olaf, 2010. "Economy wide risk diversification in a three-pillar pension system," Research Memoranda 055, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.

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