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Achieving Fiscal Balance in Japan

Tomoaki Yamada (), Sagiri Kitao () and Selahattin Imrohoroglu ()

No 736, 2013 Meeting Papers from Society for Economic Dynamics

Abstract: 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.

New Economics Papers: this item is included in nep-age, nep-dge and nep-pbe
Date: 2013
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Related works:
Journal Article: ACHIEVING FISCAL BALANCE IN JAPAN (2016) Downloads
Working Paper: Achieving Fiscal Balance in Japan (2013) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed013:736

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More papers in 2013 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
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