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Yamada Tomoaki
Department Undergraduate School , School of Commerce Position Professor |
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| Language | English |
| Publication Date | 2016/02 |
| Type | Academic Journal |
| Peer Review | Peer reviewed |
| Title | Achieving Fiscal Balance in Japan |
| Contribution Type | Co-authored (other than first author) |
| Journal | International Economic Review |
| Journal Type | Another Country |
| Volume, Issue, Page | 57(1),pp.117-154 |
| Author and coauthor | Selahattin Imrohoroglu, Sagiri Kitao |
| Details | Japan is aging and has the highest government debt-to-output ratio among advanced economies. In this article, we build a micro data-based,large scale overlapping generations model for Japan in which individuals differ in age,gender, employment type, income, and asset holdings, and incorporate the Japanese pension rules. Using existing pension law, current fiscal policy, and medium variants of demographic projections, we produce future paths for government expenditures and tax revenues, with implications for government debt and the public pension fund. Additional pension reform, a higher consumption tax, and higher female labor force participation help achieve fiscal stability. |