Article

Institutions - Population

The Future of Public Pensions in Japan

et , « The Future of Public Pensions in Japan », Revue de l'OFCE, 1995.
Among the seven major economies, Japan is one where ageing of the population is most worrying. This paper is a new attempt for studying the future of public pensions in Japan using a computable general equilibrium model with overlapping generations allowing for time-varying life-expectancy. The main result is that an active Fund policy outclasses a constant replacement rate policy from any point of view (macroeconomic performance, actuarial fairness and social welfare). In addition, it also should be better than a ...

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