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An Economic Analysis on Pension Financing Methods: Is VAT Better than Wage Proportional Tax?

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Author Info
Junichiro Takahata
Abstract

Recently, Japanese public pension scheme has been discussed more often, especially about how to finance the scheme. It is possible to finance the scheme by wage-proportional contribution or by Value-Added-Tax, but the allocation may be different depending on the financial method. I find that an optimal tax rate is 0 percent at steady state under either method by using a dynamic general equilibrium model with individuals living at longest 80-period in an incomplete market setting. Moreover, I show that it is better to have the scheme with Value-Added-Tax when we have a certain amount of public pension scheme.

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File URL: http://gcoe.ier.hit-u.ac.jp/research/discussion/2008/pdf/gd08-043.pdf
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Paper provided by Institute of Economic Research, Hitotsubashi University in its series Global COE Hi-Stat Discussion Paper Series with number gd08-043.

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Date of creation: Mar 2009
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Handle: RePEc:hst:ghsdps:gd08-043

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Related research
Keywords: ”N‹àAÁ”ïÅ•ûŽ®Aˆê”Ê‹Ït;

Find related papers by JEL classification:
E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies

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This page was last updated on 2009-12-8.

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