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Bertrand Wigniolle, Philippe Michel and Pascal Belan
''Pension funds and capital accumulation''
( 2002, Vol. 4 No.1 )
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.
Keywords: capital accumulation
JEL: D9 - Intertemporal Choice and Growth: General
G2 - Financial Institutions and Services: General
Manuscript Received : Jan 10 2002 Manuscript Accepted : Jan 17 2002

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