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Simulating fundamental tax reforms in an aging Japan

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  • Akira Okamoto
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    Abstract

    This paper studies in a quantitative way the macroeconomic and welfare effects of introducing progressive expenditure taxation, in a situation of the aging of the Japanese population. It undertakes a simulation analysis taking account of the general equilibrium effects of intragenerational inequality, which increases with a transition to an aging society. The simulation results suggest that progressive expenditure taxation has advantages over progressive labor income taxation on the grounds of efficiency and equity. Thus, a shift to progressive expenditure taxation can overcome the large welfare loss that would occur under the current tax system as Japan ages.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/09535310500114911
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Economic Systems Research.

    Volume (Year): 17 (2005)
    Issue (Month): 2 ()
    Pages: 163-185

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    Handle: RePEc:taf:ecsysr:v:17:y:2005:i:2:p:163-185

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    Related research

    Keywords: Aging population; tax reform; life-cycle general equilibrium model; simulation;

    References

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    1. Alan J. Auerbach & Laurence J. Kotlikoff, 1983. "National Savings, Economic Welfare, and the Structure of Taxation," NBER Chapters, in: Behavioral Simulation Methods in Tax Policy Analysis, pages 459-498 National Bureau of Economic Research, Inc.
    2. Fumio OHTAKE, 2008. "Inequality in Japan," Asian Economic Policy Review, Japan Center for Economic Research, vol. 3(1), pages 87-109.
    3. Kato, Ryuta, 1998. "Transition to an Aging Japan: Public Pension, Savings, and Capital Taxation," Journal of the Japanese and International Economies, Elsevier, vol. 12(3), pages 204-231, September.
    4. Ohtake, F & Saito, M, 1997. "Population Aging and Consumption Inequality," ISER Discussion Paper 0440, Institute of Social and Economic Research, Osaka University.
    5. David Altig, 2001. "Simulating Fundamental Tax Reform in the United States," American Economic Review, American Economic Association, vol. 91(3), pages 574-595, June.
    6. 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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    Cited by:
    1. Akira Okamoto, 2013. "Simulating Public Pension Reforms in an Aging Japan: Welfare Analysis with LSRA Transfers," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 9(4), pages 597-632, September.
    2. OKAMOTO Akira, 2006. "An Optimal Rate of the National Burden in an Aging Japan," Discussion papers 06036, Research Institute of Economy, Trade and Industry (RIETI).

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