Determinants of Saving and Labor Force Participation of the Elderly in Japan

Author / Creator

Yamada, Tetsuji

Available as

Online

Summary

Abstract: Japanese annual time series data covering the period 1951 to 1982 reveals. Abstract: that changes in the program of social security retirement benefits have. Abstract: substantial influen...

Abstract: Japanese annual time series data covering the period 1951 to 1982 reveals.

Abstract: that changes in the program of social security retirement benefits have.

Abstract: substantial influence on personal saving and retirement behavior. The.

Abstract: empirical results show that social security retirement benefits depress.

Abstract: personal saving by approximately 13.5 thousand yen per capita in real terms.

Abstract: from 1951 to 1982. However, declining labor force participation of the elderly.

Abstract: (i.e., earlier retirement), stimulates personal saving by an estimated .5.

Abstract: thousand yen over the same period. The study finds that the benefit effect.

Abstract: dominates the retirement effect. The net effect is consequently a downward.

Abstract: impact on personal saving. The parameter estimates indicate that the.

Abstract: retirement behavior induced by social security retirement benefits tends to.

Abstract: become more sensitive and responsive to a rise in the benefits. In addition.

Abstract: this study has identified a negative interdependency between the personal.

Abstract: saving and labor retirement behaviors; that is, an individual saves more before.

Abstract: retirement if he expects to stay a shorter time in the labor market, and vice.

Abstract: versa. Moreover, personal saving influenced by retirement behavior tends to.

Abstract: become less and less responsive, though the results indicate a relatively large.

Abstract: response, and although very small, the retirement behavior gradually becomes.

Abstract: more responsive to change in personal saving.

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