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...