scholarly journals An Analysis of Japanese Economy and Labor Market From Disparities by Gender and Employment Types of Lifetime and Annual Income, Public Pension Benefit and Redistribution

2021 ◽  
Vol 9 (2) ◽  
Author(s):  
Hiromi Ishizuka
Keyword(s):  
Labor Market ◽  
Public Pension ◽  
Japanese Economy ◽  
Pension Benefit ◽  
Annual Income ◽  
Employment Types

Affordability of public pension benefit: a historical and empirical analysis of US state and local government pension contributions

2015 ◽  
Vol 16 (1) ◽  
pp. 21-42 ◽  
Author(s):  
JUN PENG ◽  
QIUSHI WANG
Keyword(s):  
Empirical Analysis ◽  
Historical Analysis ◽  
State Level ◽  
Public Pension ◽  
Pension Benefit ◽  
Investment Performance ◽  
State And Local ◽  
Public Workforce ◽  
Pension Contribution ◽  
Pension Benefits

AbstractAs a result of the two severe stock market declines since 2000, there has been a steady debate about the affordability of state and local public pension benefits. We measured the affordability of pension benefits in terms of governments’ ability to make the required contributions based on existing tax and revenue bases. We conducted a historical analysis of government pension contributions at national and state level over a 20-year period 1992–2011 and found that the real pension burdens have increased over this period. We also found substantial variation in pension burdens among the 50 states. The results of our empirical analysis showed that employee contribution share, investment return, size of the public workforce, and pension benefit level had significant effects on pension burdens. Based on these findings, we proposed several strategies for reducing pension burdens, including increasing employee pension contribution, reducing size of workforce, and improving pension investment performance.

The Japanese Economy and the Labor Market

1989 ◽  
Vol 17 (4) ◽  
pp. 3-40 ◽  
Author(s):  
Yoshio Kurosaka
Keyword(s):  
Labor Market ◽  
Japanese Economy

scholarly journals The unequal impact of raising the retirement age: Employment response and program substitution

2021 ◽  
Vol 10 (1) ◽  
Author(s):  
Chiara Ardito
Keyword(s):  
Labor Market ◽  
Private Sector ◽  
High Frequency ◽  
Pension Benefit ◽  
Retirement Age ◽  
Employment Rate ◽  
Unintended Effects ◽  
Unemployment Benefits ◽  
Difference In Differences ◽  
Heterogeneous Effects

Abstract Using high-frequency Italian administrative data, the author studies the heterogeneous effects of a reform raising the normal retirement age (NRA) from 60 years to 65 years for private-sector male employees. The analysis, based on a difference-in-differences (DD) method, shows that the NRA raise reduces pension benefit claims but does not lead to a one-to-one increase in the employment rate since workers also apply for more disability and unemployment benefits. Moreover, most of them simply retire without any benefit. The extent of the effects varies substantially across socio-economic groups, as individuals with poorer health, with lower occupational grades and lower pay levels are the most constrained by the reform, experiencing the highest delay in pension claims, increase in employment, and inactivity. All in all, this paper shows that raising the NRA could have unintended effects as it affects more negatively the most vulnerable in the labor market.

Konjunkturabhängigkeit der Gesetzlichen Rentenversicherung am Beispiel der aktuellen Finanz- und Wirtschaftskrise

2010 ◽  
Vol 59 (3) ◽  
Author(s):  
Axel Börsch-Supan ◽  
Martin Gasche ◽  
Christina Benita Wilke
Keyword(s):  
Economic Crisis ◽  
Pension System ◽  
Labour Force ◽  
Public Pension ◽  
Pension Benefit ◽  
Contribution Rate ◽  
Public Pension System ◽  
Detailed Simulation ◽  
The Government ◽  
System 1

AbstractThe financial and economic crisis has drawn attention again on the question how sensitive the German public pension system (Gesetzliche Rentenversicherung) reacts to cyclical shocks. We identify three important channels through which business cycle movements may affect the pension system: (1) An effect caused by changes in the wage sum of the insured labour force (Beitragsgrundlageneffekt), (2) an effect caused by changes in the size of the government subsidy (Bundeszuschusseffekt) and (3) an effect caused by changes in the size of the annual pension adjustments (Rentenanpassungseffekt). We quantify these effects for the current financial and economic crisis using a detailed simulation model of the German pension system (MEA-PENSIM). Our simulation results show that the public pension system is able to cope with cyclical shocks in the sense that there are no longrun effects on the pension benefit level or the contribution rate. This cyclical stability is inherent in the system’s pension adjustment formular that links the size of benefits to the development of wages. However, it can be shown that cyclical shocks lead to increases in the contribution rate in the short and medium run. The new law that was passed in spring 2009, which forbids a decrease in nominal pension adjustments in case of decreasing wages (Rentengarantie), extends and intensifies these negative short and medium run effects because it partially offsets the automatic stability mechanism via the wage orientated pension adjustment formula.

FISCAL POLICY CHANGES AND LABOR MARKET DYNAMICS IN JAPAN’S LOST DECADE

2021 ◽  
pp. 1-40 ◽  
Author(s):  
Julen Esteban-Pretel ◽  
Xiangcai Meng ◽  
Ryuichi Tanaka
Keyword(s):  
Labor Market ◽  
Fiscal Policy ◽  
Unemployment Rate ◽  
Japanese Economy ◽  
Government Sector ◽  
Labor Market Dynamics ◽  
Lost Decade ◽  
The Government ◽  
Market Variables ◽  
The Impact

Japan’s so-called Lost Decade of the 1990s presents a unique case study of an economy with a recent severe and prolonged recession, with large changes in the labor market and fiscal policy as the main policy available to the government. Japanese unemployment rate surged from 2.1% in 1991 to 5.4% in 2002. Meanwhile, the Japanese economy experienced a rise in government expenditures, while taxes remained fairly stable. This paper quantitatively evaluates the impact of these changes in fiscal policies on labor market variables, in particular the unemployment rate, during the 1990s. We build, calibrate, and simulate a dynamic general equilibrium model with search frictions in the labor market, a productive government sector, heterogenous government spendings, and different categories of taxes. Our model is able to reproduce the paths of the main labor market variables, and the counterfactual experiments show that the changes that took place in the different spending components affected the unemployment rate heterogeneously, although overall they kept unemployment lower than it could have been. We also find that had the government also implemented countercyclical tax policies, unemployment would not have risen as much as it did by 2002.

scholarly journals Study Regarding the Effects of Demographic Transition on Labor Market and Public Pension System in Central and Eastern Europe

2020 ◽  
Vol 15 (1) ◽  
pp. 158-170
Author(s):  
Balteş Nicolae ◽  
Jimon Ştefania Amalia
Keyword(s):  
Population Structure ◽  
Labor Market ◽  
Eastern Europe ◽  
Birth Rate ◽  
Central And Eastern Europe ◽  
Pension System ◽  
Public Pension ◽  
Transitional Period ◽  
Economic Activities ◽  
Pension Systems

AbstractPopulation and the quality of labor force are the “strengths” features’ that ensure socio-economic development of a country. The last decades can be characterized as a transitional period, in which countries of European Union and especially the countries of Central and Eastern Europe are facing a demographic decline. Reduced birth rate, ageing and migration are factors’ which create a lot of pressure, both on labor market and public pension systems, items correlated with the population structure. In this paper we have presented the demographic situation and the size of migration in five countries of Central and Eastern Europe. The direct linkage between population structure, labor market and public pension systems represents, in transitional context, a threat to budget sustainability, especially in Romania. We consider that the reformation has to be adjusted with the new socio-economic conditions, finding new solutions for increasing birth rate, decreasing the “exodus” of young population and stimulating economic activities.

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