2011 Fiscal Year Final Research Report
Changes in the economic factors related to the households' lifetime income in the two lost decades : Evidence from Japanese Micro Data
| Project/Area Number |
21530202
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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 |
Economic statistics
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| Research Institution | Tokyo Metropolitan University |
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Principal Investigator |
MURATA Keiko 首都大学東京, 社会科学研究科, 教授 (90526443)
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| Project Period (FY) |
2009 – 2011
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| Keywords | 日本的雇用慣行 / 年功賃金 / 終身雇用 / 生涯所得 / 初職 / 若年労働市場 / 遺産・相続 / 資産格差 / 退職一時金 / 日本 |
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| Research Abstract |
Employing micro data since the 1980's, this research has investigated various economic factors related to the lifetime income of Japanese households. First, the key elements of the Japanese employment system, namely the seniority-based wage and lifetime employment patters, are eroding and that the traditional employment system has begun to unravel. Second, the amount of the lump-sum retirement allowances is an increasing function of the firm size and the length of worker's service, and that is consistent with the households' expectation. The obtained estimates are stable during the estimation periods. Third, the first job status at her graduation year, which is affected by macroeconomic conditions at the time, matters significantly her future job status. The effect gradually declines over the years and effectively disappears around ten years. The effect would also disappear if she can secure regular employment within a reasonable time after graduation. Forth, higher income households are likely to receive larger asset transfers. However, the contribution of intergenerational transfers to asset inequality appears to be quantitatively limited when measuring financial strength in terms of households' life cycle wealth.
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