Pension funds and capital accumulation
This note presents a model in which pension funds, by holding a significant 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.
Volume (Year): 4 (2002)
Issue (Month): 1 ()
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- Martin Feldstein, 1998. "Privatizing Social Security," NBER Books, National Bureau of Economic Research, Inc, number feld98-1.
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Review of World Economics (Weltwirtschaftliches Archiv),
Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 134(4), pages 692-711, December.
- Jeanine Bailliu & Helmut Reisen, 1997. "Do Funded Pensions Contribute to Higher Aggregate Savings?: A Cross-Country Analysis," OECD Development Centre Working Papers 130, OECD Publishing.
- Martin Feldstein & Andrew Samwick, 1998.
"The Transition Path in Privatizing Social Security,"
in: Privatizing Social Security, pages 215-264
National Bureau of Economic Research, Inc.
- Martin Feldstein & Andrew Samwick, 1996. "The Transition Path in Privatizing Social Security," NBER Working Papers 5761, National Bureau of Economic Research, Inc.
- Martin Feldstein, 1998. "Introduction to "Privatizing Social Security"," NBER Chapters, in: Privatizing Social Security, pages 1-29 National Bureau of Economic Research, Inc.
- Gale, William G, 1994.
"Public Policies and Private Pension Contributions,"
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Blackwell Publishing, vol. 26(3), pages 710-32, August.
- Shleifer, Andrei & Vishny, Robert W, 1986.
"Large Shareholders and Corporate Control,"
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