In an aging society with fewer children, a pay-as-you-go pension system presents severe difficulties. A decrease in the share of working people among the population raises the burden for pensions per capita to maintain a constant replacement ratio of pensions. This burden reduces capital...

Our paper sets an endogenous fertility model and examines how tax revenues derived from a consumption tax should be used for social security benefits such as pension and child-care policies. An additional pension financed by a consumption tax can achieve Pareto-improving allocations. Child...

In economically developed countries, aging societies with fewer children are progressing. Increased longevity has necessitated postponement of the working retirement age. Our paper presents an examination of how subsidies for an elderly labor supply affect the elderly labor supply. Our paper...

Informal family care presents important difficulties for the entire economy. Because of short supplies of formal elderly care, some family members are compelled to leave work to provide care for elderly relatives. Therefore, the overall loss of added value caused by informal family care is not...

Economically developed countries are confronting the aging of society. Especially, their respective shares of elderly people among the total population in Japan are highest in the world. Moreover, the labor participation rates of older people in Japan are higher than in other OECD countries....

This paper presents consideration of two public pension systems having a Defined Contribution (DC) or a Defined Benefit (DB) structure. The differences between these two pension structures are considerably important. In fact, DC benefits for older people are changed according to a budget under a...

Considering the sustainability of social security in an aging society with fewer children, income growth and population growth are important factors. With a decrease in income growth or population growth, social security transfers such as pension benefits cannot be provided. The...

Based on Ono (2010), this short note presents consideration of the consumption tax and examines how tax reform to maintain the neutrality of pension benefit affects income growth rate and the employment rate. A decrease in the contribution rate of workers with an increase in consumption tax...

This short paper sets an elderly care model in which the public elderly care and informal elderly care provided by the family are substitutive, with examination of the dynamics of capital accumulation and the labor supply. With certain conditions, by virtue of public elderly care, informal...

In an aging society, income inequality persists as a severe social problem. Many factors bring about income inequality. Our paper presents consideration of intergenerational mobility and income inequality. Children can not obtain an education investment from their parents if the parents are...