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Social security reform: quantitative analysis of economic, fiscal and welfare costs associated with policy uncertainty

Research Project

Project/Area Number 16K03705
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Public finance/Public economy
Research InstitutionThe University of Tokyo (2018)
Keio University (2016-2017)

Principal Investigator

Kitao Sagiri  東京大学, 大学院経済学研究科(経済学部), 教授 (50769958)

Project Period (FY) 2016-04-01 – 2019-03-31
Project Status Completed (Fiscal Year 2018)
Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2018: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2017: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2016: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Keywords少子高齢化 / 社会保障 / マクロ経済 / 不確実性 / 政策の不確実性 / 高齢化 / 社会保障制度改革 / 経済政策
Outline of Final Research Achievements

In this study, I estimated economic, fiscal and welfare effects caused by a delay of reforms in social security, and quantitatively analyzed the costs resulting from uncertainty about timing and contents of reforms. The first paper shows that a reform delay lowers savings and labor incentives, resulting in stagnant economic activity and declining wages, leaving more tax burden for future generations. The second paper analyzed economic and welfare effects of pension system uncertainty and postponement of reform.

Academic Significance and Societal Importance of the Research Achievements

高齢化が急速に進行する日本では、社会保障支出が急増すると同時に労働力の減少による大幅な税収減が予測される。制度改革が不可避である一方、痛みを伴う改革を先送りするインセンティブが存在し、どのタイミングでいかなる政策が実施されるかに関して不確実性が存在する。本研究では、マクロ経済モデルを用いて改革を先延ばしにすることによって生じる経済的な影響・財政・厚生効果を推計し、改革時期と内容の不確実性に起因するコストについて数量分析した。これらの分析結果は喫緊の政策課題を迅速に解決する必要性を強調している。政策の不確実性や、改革の遅れによる費用を明示することにより政策議論の活発化を促す効果が期待される。

Report

(4 results)
  • 2018 Annual Research Report   Final Research Report ( PDF )
  • 2017 Research-status Report
  • 2016 Research-status Report
  • Research Products

    (3 results)

All 2018 2017 2016

All Journal Article (1 results) (of which Peer Reviewed: 1 results) Presentation (2 results) (of which Int'l Joint Research: 1 results,  Invited: 2 results)

  • [Journal Article] Policy Uncertainty and Cost of Delaying Reform: The Case of Aging Japan2018

    • Author(s)
      Sagiri Kitao
    • Journal Title

      Review of Economic Dynamics

      Volume: 27 Pages: 81-100

    • DOI

      10.1016/j.red.2017.11.005

    • Related Report
      2017 Research-status Report
    • Peer Reviewed
  • [Presentation] Policy Uncertainty and Cost of Delaying Reform: The Case of Aging Japan2017

    • Author(s)
      北尾早霧
    • Organizer
      韓国中央銀行
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research / Invited
  • [Presentation] Policy Uncertainty and the Cost of Delaying Reform2016

    • Author(s)
      北尾早霧
    • Organizer
      日本経済学会年次大会
    • Place of Presentation
      名古屋大学(愛知県名古屋市)
    • Year and Date
      2016-06-18
    • Related Report
      2016 Research-status Report
    • Invited

URL: 

Published: 2016-04-21   Modified: 2020-03-30  

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