ヤマダ トモアキ   Yamada Tomoaki
  山田 知明
   所属   明治大学  商学部
   職種   専任教授
言語種別 英語
発行・発表の年月 2011/09
形態種別 学術雑誌
査読 査読有り
標題 A Politically Feasible Social Security Reform with a Two-tier Structure
執筆形態 単著
掲載誌名 Journal of the Japanese and International Economies
巻・号・頁 25(3),pp.199-224
概要 This paper investigates the welfare implications and political feasibility of social security reforms with a two-tier structure in Japan. We evaluate social security reforms from two points of view: (i) the ex-ante expected value of future generations, and (ii) whether current generations prefer reform to the status-quo system, which we call political feasibility. To evaluate the reforms, we use a large-scale overlapping generations model with idiosyncratic income risk and a two-tier structure. The first tier guarantees a basic pension and the second tier consists of the earnings-related part. Calibrating the parameters of the model to the Japanese economy, we compute the transition path and the two welfare criteria. We find that, given the two-tier structure in Japan, an increase in the basic pension and the abolition of the earnings-related part of the social security system improve the welfare of future generations, and ensures political feasibility when a consumption tax is the source of revenue.
DOI 10.1016/j.jjie.2011.07.002