Abstract
Japan already has the oldest population in the world. It built a generous social security pension programme, but since 2001 the income surplus of the principal pension programme has turned into a deficit, and from then until the 2004 reforms, its balance sheet, which showed a huge excess of liabilities, engendered a growing distrust of the government’s commitment on pensions. The Japanese have been increasingly concerned with the incentive-compatibility problem.
The author is greatly indebted to the participants in the Hakone Conference, particularly Professors T. Ihori, S. Ogura, T. Oshio and J. Silvestre, for valuable comments on an earlier draft.
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© 2007 International Economic Association
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Takayama, N. (2007). Social Security Pensions and Intergenerational Equity: The Japanese Case. In: Roemer, J., Suzumura, K. (eds) Intergenerational Equity and Sustainability. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230236769_3
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DOI: https://doi.org/10.1057/9780230236769_3
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