TY - JOUR
T1 - Public Pension Reform in Japan
AU - Okamoto, Akira
N1 - Funding Information:
This part is financed by taxes
Funding Information:
An earlier version of this paper was presented at the Tokyo Meeting for ESRI International Collaboration Projects 2006 organized by the Economic and Social Research Institute (ESRI) in March 2007, and also at the 64th Annual Meeting of the Japan Fiscal Science Association (Japan-Korea Special Session) in Tokyo in October 2007. The author is very grateful for insightful comments and suggestions by Professors Toshihiro Ihori (University of Tokyo), Sung Tai Kim (Cheongju University), Toshiyuki Uemura (Toyo University), Yoshihiro Kaneko (National Institute of Population and Social Security Research), Tomoyuki Nakajima (Kyoto University), and Toshiaki Tachibanaki (Doshisha University). The author acknowledges the financial support from the Ministry of Education, Culture, Sports, Science and Technology in Japan (Grant-in-Aid for Scientific Research (C) No.19530276).
PY - 2010
Y1 - 2010
N2 - This paper aims to establish guidelines for public pension reform in Japan, using a numerical simulation approach. The paper introduces the example of a minimum guaranteed pension in the Swedish pension system and compares this with the basic pension in Japan's public pension system, with regard to methods of income redistribution through a public pension scheme. Simulation results show that the switch from the basic pension to the guaranteed pension does not always generate favorable results. If we consider a public pension program with the same scale as the current Japanese program, the highest level of social welfare is attained when a public pension system consists of only a basic pension and is financed by a consumption tax.
AB - This paper aims to establish guidelines for public pension reform in Japan, using a numerical simulation approach. The paper introduces the example of a minimum guaranteed pension in the Swedish pension system and compares this with the basic pension in Japan's public pension system, with regard to methods of income redistribution through a public pension scheme. Simulation results show that the switch from the basic pension to the guaranteed pension does not always generate favorable results. If we consider a public pension program with the same scale as the current Japanese program, the highest level of social welfare is attained when a public pension system consists of only a basic pension and is financed by a consumption tax.
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U2 - 10.1016/S0313-5926(10)50024-9
DO - 10.1016/S0313-5926(10)50024-9
M3 - Article
AN - SCOPUS:84882727902
SN - 0313-5926
VL - 40
SP - 179
EP - 208
JO - Economic Analysis and Policy
JF - Economic Analysis and Policy
IS - 2
ER -