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This paper examines pension premiums and a consumption tax as ways to finance basic pensions. The union wage model suggests that labor wage taxation increases the rate of unemployment. Using the right-to-manage model, it becomes clear that an increase in premiums for labor wages actually leads...

All the social insurance systems in Japan have faced number of difficulties in recent years mainly because, on the one hand both aging and number of children declining had accelerated and on the other hand Japan experienced stagnated economy after 1990. Among them the public pension system...

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Housing wealth and financial wealth are the most important asset categories in households' portfolios, and they are the joint outcomes of one decision process by households. This paper investigates how the investment decision for housing and financial wealth of households are interrelated with...