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