The authors conduct an empirical study on the effect of the accumulation of pension fund financial assets, on national … of pension fund financial assets might increase national saving, when these funds are the result of a mandatory pension … program. By contrast, national saving might be unaffected, when pension funds are the result of a public program, implemented …

called "Juncker-Plan" which aims to boost investment across Europe. In our contribution we focus on retirement savings and … investment for growth aspects of the CMU. We find that Europeans indeed accumulate savings but do not invest and thus do not … prepare for retirement. Additionally, long-term investment could foster growth in the European Union (EU). We argue that the …

declines in support ratios, but also very substantial increases in productivity and per capita income by raising investment in … pension transfers to the elderly. Thus institutions and policies matter for the consequences of population aging. The … capital investment per child, also raising labor productivity. Together, the positive changes due to human and physical …

specification that is consistent with observed saving, retirement and investment choices. In our previous model with exponential …