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Capital Accumulation, Welfare, and the Emergence of Pension-Fund Activism

Belan, Pascal; Michel, Philippe; Wigniolle, Bertrand - In: FinanzArchiv: Public Finance Analysis 63 (2007) 1, pp. 54-82

This paper presents an overlapping-generations model with altruistic consumers, in which pension funds, by holding a significant share of capital assets, produce noncompetitive behavior. We study the consequences of such behavior for capital accumulation and welfare in the long run when...

Persistent link: https://www.econbiz.de/10005764488

Does imperfect competition foster capital accumulation in a developing economy.

Belan, Pascal; Michel, Philippe; Wigniolle, Bertrand - Maison des Sciences Économiques, Université Paris 1 … - 2005

We analyze the relationship between imperfect competition and capital accumulation in a dual economy, with traditional and modern sectors and two types of agents (workers and capitalists). Workers allocate their time endowment between the two sectors. Capitalists accumulate wealth in the modern...

Persistent link: https://www.econbiz.de/10005696860

Public pensions and growth

Lambrecht, Stéphane - 2001

Persistent link: https://www.econbiz.de/10013434403

Chapter 15 Intergenerational altruism and neoclassical growth models

Michel, Philippe; Thibault, Emmanuel; Vidal, Jean-Pierre - In: Handbook of the economics of giving, altruism and …, (pp. 1055-1106). 2006

This chapter surveys intergenerational altruism in neoclassical growth models. It first examines Barro's approach to … intergenerational altruism, whereby successive generations are linked by recursive altruistic preferences. Individuals have an … respect to their degree of intergenerational altruism. We also examine other forms of dynastic altruism consistent with Barro …

Persistent link: https://www.econbiz.de/10014023663