A Study on the Impact of Social Security Contribution on the Saving Ratio
| Project/Area Number |
15530179
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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 policy
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| Research Institution | National Graduate Institute for Policy Studies |
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Principal Investigator |
OKITA Yoichi National Graduate Institute for Policy Studies, Graduate School of Policy Studies, Professor, 政策研究科, 教授 (70303089)
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| Co-Investigator(Kenkyū-buntansha) |
OSHIO Takashi Kobe University, Graduate School of Economics, Professor, 経済学研究科, 教授 (50268132)
ONO Miki (KOHARA Miki) Osaka University, Osaka School of International Public Policy, Associate Professor, 国際公共政策研究科, 助教授 (80304046)
太田 清 内閣府, 経済社会総合研究所, 上席主任研究官 (00233122)
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| Project Period (FY) |
2003 – 2005
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| Project Status |
Completed (Fiscal Year 2005)
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| Budget Amount *help |
¥3,200,000 (Direct Cost: ¥3,200,000)
Fiscal Year 2005: ¥900,000 (Direct Cost: ¥900,000)
Fiscal Year 2004: ¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 2003: ¥1,200,000 (Direct Cost: ¥1,200,000)
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| Keywords | social security / saving / Euler equation / panel data / ageing of population / income gap / redistirbutional effect / unemployment / 貯蓄率 / 個票 / 年金の再分配効果 / 世代内再配分 / 所得格差拡大 / 不確実性 / 社会保障の貯蓄代替 / 共和分関係 / 資産格差 / 社会保障資産 / 年金と就業行動 / 世代内公平 / パネル調査 |
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| Research Abstract |
Firstly, a regression analysis using macroeconomic data in this project found out that the progress of the social security system in general have a negative impact on saving. A separate analysis using cointegration found that the saving in the social security fund substitute household savings. An analysis based on the Euler equation with the liquidity constraint and risk factors showed that the uncertainty about the life after the retirement increases saving.
Secondly, the panel data collected from a survey of Kakei-keizai Research Institute showed an increasing tendency of the younger generation remaining poorer than its senior generations. It was also found that the income inequality tended to remain and enlarge.
According to our analysis concerning redistribution policies, it is meaningful for the social security fund to hold a certain stock of fund under the aging population. The drawing down of the accumulated fund for the public pension as a buffer for the dynamic demographic shock may lead to the intergenerational inequity.
The widening of the income gap in the 1990s can be significantly attributed to the aging of the population, although the inequality in the young generation is also intensifying. We also found that the redistributional effect of the contribution (burden) born by the household sector (the sum of social security contribution and tax payment) is larger in the case of inter-generational redistribution than in the case of intra-generational redistribution.
Lastly, we examined the dissaving behavior of the unemployed in Japan finding that those unemployed to not withdraw their saving significantly.
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Report
(4 results)
Research Products
(27 results)
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[Book] 女性たちの平成不況2004
Author(s)
樋口美雄, 太田清(編著)
Total Pages
311
Publisher
日本経済新聞社
Description
「研究成果報告書概要(和文)」より
Related Report
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