|Publication type:||Article in scientific journal|
|Type of review:||Peer review (publication)|
|Title:||Innovative investments, natural resources, and intergenerational fairness : are pension funds good for sustainable development?|
|Published in:||Swiss Journal of Economics and Statistics|
|Publisher / Ed. Institution:||Peter Lang|
|Subjects:||Economic growth; Financial investment; Sustainable development; Pension fund|
|Subject (DDC):||332.6: Investment|
|Abstract:||We analyse long-term consumption paths in a dynamic two-sector economy with overlapping generations. Each young generation saves for the retirement age, both with private savings and pension funds. The productivity of each sector can be raised by sector-specific research, while the essential use of a non-renewable natural resource poses a threat to consumption possibilities in the long run. Bonds, the two types innovations, and resource stocks are the different investment opportunities. We show that pension funds have a positive impact on long-term development, provided that individuals have a preference for own investments. In this case, sustainability is more likely to be achieved due to pension fund savings.|
|Fulltext version:||Published version|
|License (according to publishing contract):||Licence according to publishing contract|
|Departement:||School of Management and Law|
|Organisational Unit:||Center for Economic Policy (FWP)|
|Appears in collections:||Publikationen School of Management and Law|
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