The effect of defined contribution pension plan on firm's financial status, household's savings action, and financial market.
| Project/Area Number |
16530202
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Tohoku University |
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Principal Investigator |
KAMOIKE Osamu Tohoku University, Graduate School of Economics and Management, Professor, 大学院経済学研究科, 教授 (60004199)
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| Co-Investigator(Kenkyū-buntansha) |
KANEZAKI Yoshio Tohoku University, Graduate School of Economics and Management, Professor, 大学院経済学研究科, 教授 (30204572)
AKITA Jiro Tohoku University, Graduate School of Economics and Management, Professor, 大学院経済学研究科, 教授 (10302069)
YOSHIDA Hiroshi Tohoku University, Graduate School of Economics and Management, Associate Professor, 大学院経済学研究科, 助教授 (60275823)
KITAGAWA Akiomi Tohoku University, Graduate School of Economics and Management, Associate Professor, 大学院経済学研究科, 助教授 (60262127)
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| Project Period (FY) |
2004 – 2006
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| Project Status |
Completed (Fiscal Year 2006)
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| Budget Amount *help |
¥3,300,000 (Direct Cost: ¥3,300,000)
Fiscal Year 2006: ¥600,000 (Direct Cost: ¥600,000)
Fiscal Year 2005: ¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 2004: ¥1,600,000 (Direct Cost: ¥1,600,000)
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| Keywords | Defined contribution pension plan / 401(k) / Household savin / Aging / Saving encouraging tax system / Labor market / Difference between size of firms / corporate pension / 確定給付年金 / 貯蓄優遇(奨励)税制 / 企業財務 / 二重労働市場 / 年金改革 / 資産選択 / 401K |
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| Research Abstract |
The purpose of this research is to verify the effect of Japanese defined contribution pension plan introduction from the viewpoint of the household sector, the business enterprise sector, and macroeconomics.
1. The first research explores the implications of possible bankruptcies of firms for their own wage schemes and the structure of labor market, using a two-period general equilibrium model. As a result, a substantial utility differential emerges between those who have luckily found a job of the primary market and those who have not, although there is no difference in their innate abilities.
2. We have obtained the list of 93 enterprise companies in which the article on 401k pension introduction in the new paper. The stock prices data before and after the newspaper publishing was acquired, and the news of 401k pension introduction how stock prices, corporate value, changed the event was studied. As a result, we could not confirm the effect of introducing the DC plan on raising stock prices.
3. The effect of the DC pension system in Japan on the households, savings was tested by using the data of "Family Budget Survey" from 2002 to 2006. As a result, the possibility of increasing the amount of the pension property was shown in the group of high-income working households. In addition, the possibility that the revision of the contribution limit invades aggregate savings is shown among high-income households. In each case, the effect that the DC pension system increased the pension type savings and aggregate savings of low-income households was not able to be confirmed.
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Report
(4 results)
Research Products
(10 results)
