Pension funds and capital accumulation
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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CORE Discussion Papers
1997084, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- Martin Feldstein & Andrew Samwick, 1998.
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National Bureau of Economic Research, Inc.
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- Alicia H. Munnell & Frederick O. Yohn, 1991. "What is the impact of pensions on saving?," Working Papers 91-5, Federal Reserve Bank of Boston.
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