Achieving Fiscal Balance in Japan
Tomoaki Yamada (),
Sagiri Kitao () and
Selahattin Imrohoroglu ()
No 736, 2013 Meeting Papers from Society for Economic Dynamics
In this paper we build a micro-data based, large-scale overlapping generations model for Japan in which individuals differ in age, gender, employment status, income, and asset holdings, and incorporate the Japanese pension rules in detail. We estimate age-consumption and age-earnings profiles from the Family Income and Expenditure Survey data, assume complete markets and use these to generate tax revenues and transfer payments for government accounts. We calibrate the model so that it produces the main macroeconomic indicators for 2010. Using existing pension law and fiscal parameters and the medium variants of fertility and survival probability projections, we produce predicted time paths for the ratio JGBs and the pension fund.
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Journal Article: ACHIEVING FISCAL BALANCE IN JAPAN (2016)
Working Paper: Achieving Fiscal Balance in Japan (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed013:736
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