Despite the prolonged recession and sizable environmental changes after the burst of the Japanese economic bubble, a drastic degeneration has not been seen, either in seniority-based wages or in Japan's practice of lifetime employment, in the previous studies analyzing the negative impact of...

This paper examines the factors that lie behind the intergenerational transfers (through bequests andeducational investment) and retirement allowances in Japan. It is based on our unique microdatataken from the "Survey of Family Relationship, Job Experience, and Intergenerational...

Because habit formation among consumers preference has strong influence on policy effects, it is crucially important for public policy management. In this article, I estimate the Euler equation allowing habit formation based on Dynan (2000), using data from the Japanese Panel Survey of Consumers...

Using micro-data from the Japanese Panel Survey of Consumers (JPSC), this paper analyzed an impact of macroeconomic conditions at graduation on the future job opportunities of female workers in Japan. More specifically, we examined whether the failure of obtaining a regular job at the time of...

This paper describes the basic structure and multipliers of the 2008 revised version of The ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was first released in 1998 (Hori et al. (1998)). The model is basically a demand-oriented, traditional Keynesian-type model with an...

This paper describes the basic structure and multipliers of the 2015 version of The ESRI Short-Run Macroeconometric Model of the Japanese Economy, which was first released in 1998. The model is basically a demand-oriented, traditional Keynesian model with IS-LM-BP framework; however, it adopts...

We have estimated each generation's lifetime benefit and burden as well as lifetime income as of 2005 by using the generational accounting model with the social security system and computed its lifetime net burden ratio (LNBR = net lifetime burden / lifetime income) As a result, the following...

The purpose of this paper is to quantify intragenerational inequality among income brackets and places of residence. To this end, the paper has estimated lifetime benefits and burdens of each cohort by using the generational accounting model. Assuming the status quo, a person with higher income...

Real personnel costs of the government in the future will be affected by the current age structure of government employees. With the total number of employees fixed, personnel costs of the local government will decrease by 7% in the next 10 years as the age structure of local government...

We have built a quantitative model of the pension, medical care and aged care by improving Suzuki(2006) and estimated intergenerational inequality caused by the social security system. It should be noted that the model be able to reproduce the long-term projection made by the Japanese...