Limit search to available items
Book Cover
E-book
Author McGrattan, Ellen R

Title On Financing Retirement, Health, and Long-Term Care in Japan
Published Washington, D.C. : International Monetary Fund, 2018

Copies

Description 1 online resource (45 pages)
Contents Cover; Contents; Abstract; 1. Introduction; 2. Related Literature; 3. The Model Economy; 4. Model Parameters; 5. Evaluation of Alternative Financing Options; 6. Evaluation of Other Reform Options; 7. Conclusion; References; Tables; 1. Adjusted National Income and Product Accounts for 2015; 2. Adjusted Fixed Asset Tables with Stocks End of Period for 2015; 3. Parameters of the Model Economy Calibrated to Japan's Data; 4. Tax Rates and Incomes; Figures; 1. Old-age Dependency Ratios, Japan and the Next 10 Highest OECD Countries; 2. Old-age Related Spending, Japan and OECD Countries
3. OECD Countries: Tax Revenues to GDP4. Japan: Health Transfers and Copayments by Age; 5. Earning Patterns by Productivity Type and Age; 6. Aging Costs: Total and Health plus Long-term Care; 7. Consumption Taxes Under Different Scenarios; 8. GDP Under Different Scenarios; 9. Sources of Government Revenue Under the Preferred Policy Scenario; 10. Financing Aging Costs Through Increases in Contributions; 11. Welfare Effects of Financing Aging Costs Through Increases in Contributions; 12. Debt Financing Scenario; 13. Changes in Interest Rates Under the Baseline and in Debt Financing Scenario
14. Crowding out of Private Sector Investment in Debt Financing Scenario15. Welfare Effects of Debt Financing Scenario; 16. Welfare Effects of Increasing Copayment Rates; 17. VAT Adjustment Under Favorable Demographics, or Improved Efficiency in Health Delivery; 18. GDP Under Favorable Demographics, or Improved Efficiency in Health Delivery; 19. GDP when TFP Growth Accelerates; 20. Consumption Taxes when TFP Growth Accelerates; Appendix; 1. Assumptions on Pension Transfers
Summary 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
Notes Print version record
Subject Fiscal Policy.
Government Expenditures And Health.
Health Insurance, Public And Private.
Social Security And Public Pensions.
Japan.
Form Electronic book
Author Miyachi, Kazuaki
Peralta-Alva, Adrian
ISBN 9781484387184
148438718X