On Financing Retirement Health And Long Term Care In Japan
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On Financing Retirement, Health, and Long-term Care in Japan by Ellen R. McGrattan,Kazuaki Miyachi,Adrian Peralta-Alva Pdf
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.
Trends and Factors in Japan's Long-Term Care Insurance System by Pedro Olivares-Tirado,Nanako Tamiya Pdf
Ageing population poses a set of complex policy and dilemmas for social security systems, intensifying the concerns about rising expenditures in health care and long-term care for elderly. In this context, ageing societies has many valuable lessons to learn by studying Japan's experience dealing with its hyper-aged society and particularly from its strategies to ensure the financial sustainability of the Long-Term Care Insurance (LTCI) system. Based on an exhaustive literature review, and the results from six original researches on long-term care expenditures in Japan (LTCE) conducted during a doctoral program, the book provides a comprehensive view in analyzing trends and factors associated with increasing expenditures in the Long-Term Care Insurance system in Japan. The book address relevant topics such as; the main socio-demographic changes experienced by the Japanese society during the last three decades, predictors of the LTCE, measuring efficiency in nursing homes, the impact of the LTCI 2005-reform to contain expenditures, cost-effectiveness of the in-home and community based services and institutional LTCE in the last year of life. The book end with a discussion on futures challenges and strategies oriented to contribute with the sustainability of LTCI system in Japan.
Ageing, Long-term Care Insurance and Healthcare Finance in Asia by Sabrina Ching Yuen Luk Pdf
This book uses a revised version of Kingdon’s multiple-streams framework to examine health financing reforms in China, Hong Kong, Taiwan, and the Republic of Korea (ROK) as well as long-term care insurance (LTCI) reforms in Japan and Singapore. It shows that the explanatory power of the multiple-streams framework can be strengthened through enriching the concepts of policy entrepreneurs, ideas, and windows of opportunity in the original framework as well as bringing the theoretical lens of historical institutionalism into the framework.
Exploring the Effect of Retirement on Health in Japan by Masaaki Mizuochi Pdf
This book examines the relationship between retirement and health of older people in Japan’s super-aging society and provides a key to understanding the remarkable longevity of the population. It also furnishes new evidence in this research field where the findings have been conflicting and the detailed causal mechanism has not been clarified for many years. For that purpose, a large-scale survey was used, “The Longitudinal Survey of Middle-Aged and Elderly Persons,” which was conducted in Japan from 2005 to 2015 with 34,240 respondents aged 50–59 years in the first sample. Using this longitudinal survey, which focused on people just before retirement, and rigorous causal inference including instrumental variable and panel estimation, several research questions were tested. Specifically, existing literature does not provide sufficient findings about the heterogeneity in the effect of retirement on health. Thus, we have questions which should be addressed: does retirement affect health immediately or with delay; does the lifestyle before retirement matter for post-retirement health; and which is better for health retiring early or late? The lack of this viewpoint is believed to have led to the conflicting previous findings. If we know the answers to the questions, we would be able to understand the mechanisms between retirement and health, and prepare more properly for better retirement life. Showing the results of the testing of these questions, this book provides readers, researchers, and policymakers a comprehensive understanding of the retirement–health relationship and a suggestion for an effective labor and health policy in an aging society.
Health Spending in Japan by Mr.Masahiro Nozaki,Kenichiro Kashiwase,Ikuo Saito Pdf
Health spending has risen rapidly in Japan. We find two-thirds of the spending increase over 1990–2011 resulted from ageing, and the rest from excess cost growth. The spending level will rise further: ageing alone will raise it by 31⁄2 percentage points of GDP over 2010–30, and excess cost growth at the rate observed over 1990–2011 will lead to an additional increase of 2–3 percentage points of GDP. This will require a sizable increase in government transfers. Japan can introduce micro- and macro-reforms to contain health spending, and financing options should be designed to enhance equity.
Aging in the United States and Japan by Yukio Noguchi,David A. Wise Pdf
Japanese and American economists assess the present economic status of the elderly in the United States and Japan, and consider the impact of an aging population on the economies of the two countries. With essays on labor force participation and retirement, housing equity and the economic status of the elderly, budget implications of an aging population, and financing social security and health care in the 1990s, this volume covers a broad spectrum of issues related to the economics of aging. Among the book's findings are that workers are retiring at an increasingly earlier age in both countries and that, as the populations age, baby boomers in the United States will face diminishing financial resources as the ratio of retirees to workers sharply increases. The result of a joint venture between the National Bureau of Economic Research and the Japan Center for Economic Research, this book complements Housing Markets in the United States and Japan (1994) by integrating research on housing markets with economic issues of the aged in the United States and Japan.
Public Policy and the Old Age Revolution in Japan by Scott Bass,Masato Oka,Jill Norton,Robert Morris *Deceased* Pdf
Thirty years ago, when compared to the U.S., England, France, and Sweden, Japan had the lowest life expectancy for males and females. Today, Japan has the highest life expectancy and is the world’s most rapidly aging society. Public Policy and the Old Age Revolution in Japan captures the vitality of Japanese policymakers and the challenges they face in shaping a modern society responding to its changing needs. The rapid transition to an aging society poses a set of complex policy and resource dilemmas; the responses taken in Japan are of great value to policymakers, professionals, and students in the fields of gerontology, Asian and Japanese studies, sociology, public policy, administration and management, and anthropology in other industrial aging societies. Readers of Public Policy and the Old Age Revolution in Japan will discover the array of social and economic implications that comes with an increasingly aged society. Such a change in demographics affects pension expenditures and pension contributions, capital formation and savings rates, health costs, service systems, tax bases, labor pools, career counseling, training, advertising, and marketing. This book does not stop with these topics, however. Readers also learn about: how older Japanese workers are staying employed and employable policies in Japan for a smooth transition from work to retirement Japan’s Silver Human Resource Centers the new direction of health services in Japan the Japanese financing system for elderly health care the expansion of formalized in-home services for Japan’s aged Japanese housing policy and the concept of universal design the Gold Plan, a comprehensive ten-year plan to promote health care and welfare for the aged the concept of ikigai--promoting feelings of purpose and self-worth in the aged Public Policy and the Old Age Revolution in Japan is one of only a handful of books prepared in English by American and Japanese authors for an international audience about aging and social policy in Japan. The book’s recent collection of articles by leading scholars on the subject makes it a unique and timely source of information. Above all, Public Policy and the Old Age Revolution in Japan makes it clear that the rest of the world has many valuable lessons to learn by studying Japan’s approach to its rapidly aging society.
Caring for the Elderly in Japan and the US by Susan Orpett Long Pdf
In an era of changing demographics and values, this volume provides a cross-national and interdisciplinary perspective on the question of who cares for and about the elderly. The contributors reflect on research studies, experimental programmes and personal experience in Japan and the United States to explicitly compare how policies, practices and interpretations of elder care are evolving at the turn of the century.
National Research Council,Division of Behavioral and Social Sciences and Education,Committee on Population,Panel on Policy Research and Data Needs to Meet the Challenge of Aging in Asia
Author : National Research Council,Division of Behavioral and Social Sciences and Education,Committee on Population,Panel on Policy Research and Data Needs to Meet the Challenge of Aging in Asia Publisher : National Academies Press Page : 486 pages File Size : 46,6 Mb Release : 2012-07-31 Category : Social Science ISBN : 9780309254090
Aging in Asia by National Research Council,Division of Behavioral and Social Sciences and Education,Committee on Population,Panel on Policy Research and Data Needs to Meet the Challenge of Aging in Asia Pdf
The population of Asia is growing both larger and older. Demographically the most important continent on the world, Asia's population, currently estimated to be 4.2 billion, is expected to increase to about 5.9 billion by 2050. Rapid declines in fertility, together with rising life expectancy, are altering the age structure of the population so that in 2050, for the first time in history, there will be roughly as many people in Asia over the age of 65 as under the age of 15. It is against this backdrop that the Division of Behavioral and Social Research at the U.S. National Institute on Aging (NIA) asked the National Research Council (NRC), through the Committee on Population, to undertake a project on advancing behavioral and social research on aging in Asia. Aging in Asia: Findings from New and Emerging Data Initiatives is a peer-reviewed collection of papers from China, India, Indonesia, Japan, and Thailand that were presented at two conferences organized in conjunction with the Chinese Academy of Sciences, Indian National Science Academy, Indonesian Academy of Sciences, and Science Council of Japan; the first conference was hosted by the Chinese Academy of Social Sciences in Beijing, and the second conference was hosted by the Indian National Science Academy in New Delhi. The papers in the volume highlight the contributions from new and emerging data initiatives in the region and cover subject areas such as economic growth, labor markets, and consumption; family roles and responsibilities; and labor markets and consumption.
In recent years, Japan and Germany have been facing very similar challenges: aging populations, changing employment structures, long-lasting economic stagnation, and globalization, all of which threaten existing social security arrangements. Both countries are in a number of respects more socially and politically regulated, and in this sense less liberal, than the Anglo-American economies. Nonetheless, during the last couple of years several important social policy reforms have been implemented. A comparison of these reforms may provide valuable insights into the changing character of "conservative" welfare states. This volume concentrates on two fields of social policy: long-term care insurance and public pensions. These social insurances are at the center of current public debate in both countries because population aging translates immediately into a higher demand for care for the elderly and old age security. The contributions range from demographic and policy implications of aging through detailed analyses on the different reform measures to specific aspects such as bioethical or regional policy considerations. The volume is intended not only for experts specializing in social policy research but also for policy makers as well as the general reader interested in the current debates centering on the "restructuring of the welfare state".
International Monetary Fund. Asia and Pacific Dept
Author : International Monetary Fund. Asia and Pacific Dept Publisher : International Monetary Fund Page : 93 pages File Size : 48,5 Mb Release : 2018-11-27 Category : Business & Economics ISBN : 9781484386729
Japan by International Monetary Fund. Asia and Pacific Dept Pdf
The rapid aging and shrinking of Japan’s population will dominate economic policy making in coming decades—impelling a fresh look at the objectives and tools of Abenomics. Six years of Abenomics have yielded some important results, but achieving sustained high growth and durable reflation, while also tackling debt sustainability and a shifting global economic landscape, will require strengthened policies.
Finance & Development, March 2020 by International Monetary Fund. Communications Department Pdf
This issue of Finance & Development discusses link between demographics and economic well-being. In the coming decades, demographics is expected to be more favorable to economic well-being in the less developed regions than in the more developed regions. The age structure of a population reflects mainly its fertility and mortality history. In high-mortality populations, improved survival tends to occur disproportionately among children. The “demographic dividend” refers to the process through which a changing age structure can spur economic growth. It depends, of course, on several complex factors, including the nature and pace of demographic change, the operation of labor and capital markets, macroeconomic management and trade policies, governance, and human capital accumulation. Population aging is the dominant demographic trend of the twenty-first century—a reflection of increasing longevity, declining fertility, and the progression of large cohorts to older ages. Barring a change in current trends, the industrial world’s working-age population will decline over the next generation, and China’s working-age population will decline as well. At the same time, trends toward increased labor force participation of women have played out with, for example, more women than men now working in the United States.
Japan has navigated the dual shock of the pandemic and the energy crisis well. However, significant headwinds from weak global growth, geopolitical tensions and high inflation highlight the importance of enhancing the Japanese economy’s resilience to shocks. In a context of inflation, which has risen above target, and pressures from divergent monetary policy from peers, adjustments to monetary policy settings have commenced. Given high public debt, fiscal consolidation to rebuild fiscal buffers, underpinned by a credible medium-term fiscal framework to put the debt-to-GDP ratio on a clear downward path, is key. Longer-term sustainability also requires reducing greenhouse gas emissions in line with government targets, calling for green investment, innovation and carbon pricing. Reforms to improve the innovation framework and incentives for start-ups are key to boost productivity and address ageing pressures. Removing obstacles to the employment of women and older persons and making greater use of foreign workers are also essential to counter demographic headwinds. Strengthening the financial position of young people and policies to support families and children, such as improved parental leave, would help to reverse the downward trend in the fertility rate. SPECIAL FEATURE: ADDRESSING DEMOGRAPHIC HEADWINDS
A Strategy for IMF Engagement on Social Spending by International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf
This paper uses case studies to explore the nature and extent of past IMF engagement on social spending issues and to draw lessons for future engagement.