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Pension Reform in Japan

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  • Akira Okamoto

    ()
    (Faculty of Economics, Okayama University, Naka 3-chome, Tsushima, Okayama, 700-8530, Japan)

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    Abstract

    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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    File URL: http://www.eap-journal.com/archive/v40_i2_05_okamoto.pdf
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    Bibliographic Info

    Article provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).

    Volume (Year): 40 (2010)
    Issue (Month): 2 (September)
    Pages: 179-208

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    Handle: RePEc:eap:articl:v:40:y:2010:i:2:p:179-208

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    Related research

    Keywords: Public pension reform; Swedish pension system; Minimum guaranteed pension; Basic pension; Life-cycle general equilibrium simulation model;

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    1. Seidman, Laurence S, 1983. "Taxes in a Life Cycle Growth Model with Bequests and Inheritances," American Economic Review, American Economic Association, vol. 73(3), pages 437-41, June.
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