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Female Labor Supply, Social Security, and Fiscal Consolidation

In: The Political Economy of Fiscal Consolidation in Japan

Author

Listed:
  • Ryuta Ray Kato

    (International University of Japan)

  • Masumi Kawade

    (Nihon University)

Abstract

This paper numerically examines the impact of expanding female labor supply on economic growth and the government revenue in an aging Japan within a dynamic general equilibrium framework with multi-period overlapping generations. The difference in full-time and non full-time workers of both male and female labor force is explicitly considered. Simulation results indicate that even if all potential female labor force who cannot work currently due to child care becomes full-time workers and thus labor force in efficiency is most expanded, the impact of such an increase on the Japanese economy and fiscal consolidation through an increase in tax revenue as well as contributions to the public pension scheme is very much limited. Even in the most expanding case, production only increases by 1.50 % and the improvement in the government budget would be 1.34–1.46 % in year 2050. The most crucial reason of such limited impacts is found in the large gap in the wage profile between male and female workers, and if the gap vanishes, the impact drastically becomes quite large.

Suggested Citation

  • Ryuta Ray Kato & Masumi Kawade, 2015. "Female Labor Supply, Social Security, and Fiscal Consolidation," Advances in Japanese Business and Economics, in: Toshihiro Ihori & Kimiko Terai (ed.), The Political Economy of Fiscal Consolidation in Japan, edition 127, chapter 0, pages 69-93, Springer.
    • Handle: RePEc:spr:advchp:978-4-431-55127-0_3
    DOI: 10.1007/978-4-431-55127-0_3
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