In this paper we investigate why and to what extent the government should have a social security trust fund, and how it should manage the fund in the face of demographic shocks, based on a simple overlapping-generations model. We show that, given an aging population, a trust fund in some form...

We examine the impact of the marginal commodity tax reforms in Japan and Korea, using data from the official household surveys of the two countries. Based on the estimations of two demand systems (linear expenditure system (LES) and almost ideal demand system(AIDS)), we compare the marginal...

This paper utilizes historical information to explore the relationship between labor force participation of middle aged and old people and the disability program in Japan. In particular, we explore the time series dimension to identify what has determined the trend in disability program...

We examine how Japanese parents evaluate the current education system and assess possible reforms, based on a nationwide parent survey. Parents who have higher educational background, occupational status, and household income and expect higher education attainment from their children tend to be...