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Relationship between Social Security Programs and Elderly Employment in Japan

In: Social Security Programs and Retirement around the World: The Effects of Reforms on Retirement Behavior

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Listed:
  • Takashi Oshio
  • Satoshi Shimizutani
  • Akiko Oishi

Abstract

This study examines how elderly employment is associated with social security programs and how it responds to recent reforms in Japan. To this end, we employed a rich and longitudinal dataset of middle-aged and older individuals collected between 2005 and 2018. By incorporating various factors related to social security incentives into a single index of implicit tax (ITAX), we confirmed that the index successfully captured the incentives and their changes incorporated in recent social security reforms. We further estimated the association of ITAX with an individual’s decisions concerning retirement and pension benefit claims. Lastly, we conducted counterfactual simulations to assess the effect of recent social security forms on retirement based on the estimated regression parameters. The results showed that a higher ITAX drove individuals, especially men, to retire and claim benefits earlier.
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Suggested Citation

  • Takashi Oshio & Satoshi Shimizutani & Akiko Oishi, 2023. "Relationship between Social Security Programs and Elderly Employment in Japan," NBER Chapters, in: Social Security Programs and Retirement around the World: The Effects of Reforms on Retirement Behavior, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:14890
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    References listed on IDEAS

    as
    1. Coile, Courtney C. & Milligan, Kevin & Wise, David A. (ed.), 2019. "Social Security Programs and Retirement around the World," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226619293.
    2. Courtney C. Coile & Kevin Milligan & David A. Wise, 2019. "Social Security Programs and Retirement around the World: Working Longer," NBER Books, National Bureau of Economic Research, Inc, number coil-1.
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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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