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On Financing Retirement, Health, and Long-term Care in Japan
by Ellen R. McGrattan, Kazuaki Miyachi, and Adrian Peralta-Alva

Series:Working Paper No. 18/249
ISBN 9781484384718
Code: #WPIEA2018249

Publication year: 2018

Cdn: $27.00; US: $23.50
Paperback
Language: English
44 pages
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Japan faces the problem of how to finance retirement, health, and long-term care expenditures as the population ages. This paper analyzes the impact of policy options intended to address this problem by employing a dynamic general equilibrium overlapping generations model, specifically parameterized to match both the macroeconomic and microeconomic level data of Japan. We find that financing the costs of aging through gradual increases in the consumption tax rate delivers a better macroeconomic performance and higher welfare for most individuals than other financing options, including those of raising social security contributions, debt financing, and a uniform increase in health and long-term care copayments.
On Financing Retirement, Health, and Long-term Care in Japan
Cdn: $27.00; US: $23.50
International Monetary Fund (IMF) BookID: 123940 Added: 2018.12.2