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Social Security Programs and Retirement around the WorldMicro-Estimation$
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Jonathan Gruber and David A. Wise

Print publication date: 2004

Print ISBN-13: 9780226310183

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226309989.001.0001

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Social Security and Retirement in Japan: An Evaluation Using Micro-Data

Social Security and Retirement in Japan: An Evaluation Using Micro-Data

(p.399) 7 Social Security and Retirement in Japan: An Evaluation Using Micro-Data
Social Security Programs and Retirement around the World

Takashi Oshio

Akiko Sato Oishi

University of Chicago Press

This chapter analyzes empirically the impact of social security incentives on the retirement decisions of older employees in Japan. The estimation and simulation results will provide micro-economic foundations for impact analysis that is crucial to discussions about pension reforms in Japan. The chapter is organized as follows. Section 7.2 reviews the institutional background, laying out the retirement policy landscape in Japan and setting out the relevant sources of income support for the elderly. Section 7.3 provides the research background with a brief review of previous studies on this topic in Japan; Section 7.4 sets out the data on which the estimation and simulation is based. Section 7.5 constructs earnings histories and projections from our data; and Section 7.6 sets up incentive measures (benefit accrual, option value, and peak value). Section 7.7 estimates the impact of incentive measures on retirement, and Section 7.8 summarizes estimation results. Section 7.9 conducts policy simulations based on the estimated models, and Section 7.10 concludes.

Keywords:   social security, retirement incentives, retirement behavior, pension reform, older employees

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