Financial market lobbies and pension reform |
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| Authors: | Achim Kemmerling Michael Neugart |
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| Affiliation: | 1. Chair of Finance, FIF Institute, Zeppelin University, Am Seemoser Horn 20, D-88045 Friedrichshafen, Germany;2. Technische Universität Darmstadt, Hochschulstrasse 1, 64289 Darmstadt, Germany |
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| Abstract: | We develop a model in which firms in the financial market lobby the government to lower compulsory contributions to the public pension system. Firms lobby in order to increase demand from households for their old-age savings products. We conclude with a comparison of two major pension reforms in Europe exemplifying the influence of financial market lobbies on pension policies. |
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