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Japan's public pension system: What's wrong with it and how to fix it


  • Horioka, Charles Yuji


In this paper, I breifly discuss the current structure of Japan's public pension system, the history of that system, and some of the problems with the current system and then make a number of recommendations for reforming the system. I argue that Japan's current public pension system hasan adverse impact on the inter- and intragenerational allocation of resources and that it discourages private saving as well as the labor supply of the aged and of women but that these distortions can be corrected by reforming the system in the appropriate ways.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Horioka, Charles Yuji, 1999. "Japan's public pension system: What's wrong with it and how to fix it," Japan and the World Economy, Elsevier, vol. 11(2), pages 293-303, April.
  • Handle: RePEc:eee:japwor:v:11:y:1999:i:2:p:293-303

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    References listed on IDEAS

    1. Tatsuo Hatta & Noriyoshi Oguchi, 1996. "The Net Pension Debt of the Japanese Government," NBER Chapters,in: The Economic Effects of Aging in the United States and Japan, pages 333-351 National Bureau of Economic Research, Inc.
    2. Feldstein, Martin & Liebman, Jeffrey B., 2002. "Social security," Handbook of Public Economics,in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 32, pages 2245-2324 Elsevier.
    3. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-926, Sept./Oct.
    4. Regina Villela Malvar & Laurence J. Kotlikoff & Willi Leibfritz, 1999. "Generational Accounting in Brazil," NBER Chapters,in: Generational Accounting around the World, pages 177-198 National Bureau of Economic Research, Inc.
    5. Tachibanaki, Toshiaki & Shimono, Keiko, 1985. "Labor Supply of the Elderly--Their Desires and Realities about Full-time Jobs, Part-time Jobs, Self-employed Jobs or Retirement--," Economic Review, Hitotsubashi University, vol. 36(3), pages 239-250, July.
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    Cited by:

    1. Ono, Hiroshi & Rebick, Marcus, 2002. "Impediments to the Productive Employment of Labor in Japan," SSE/EFI Working Paper Series in Economics and Finance 500, Stockholm School of Economics.
    2. Hiroshi Ono & Marcus Rebick, 2003. "Constraints on the Level and Efficient Use of Labor," NBER Chapters,in: Structural Impediments to Growth in Japan, pages 225-258 National Bureau of Economic Research, Inc.

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    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions


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