Book Publications
Takayama, N., “Pension Reform: Global Solutions and Japanese Experiences,” (Chinese Version, translated by Dr. Xinmei Wang) China Financial & Economic Publishing House, June 2023, ISBN: 9787509568170, 277p.
Hinz, R., Holzmann, R., Tuesta, D. and Takayama, N. eds., “Matching Contributions for Pensions,” The World Bank, October 2012, ISBN: 9780821394922, 356p.
The use of matching contributions to enhance the participation and level of savings in pensions system has now been in use for nearly three decades in a number of high income countries. Increasingly, countries across the full range of economic development are looking to the design as a means of addressing the low rates of participation in formal pension and other retirement savings systems. A number of countries have recently introduced innovations in their pension systems that significantly rely on contributions matches and related types of direct subsidies to provide incentives for groups that mandates and other indirect methods such as preferential tax treatment have been unsuccessful in reaching. There is particular interest among developing countries in utilizing this design to extend coverage to informal sector and low income workers that typically do not pay income related taxes. This volume provides descriptions and analysis of the design, experience and outcomes achieved in the high income countries where there information about the dynamics and outcomes that this approach has achieved is not beginning to emerge. It also reviews new efforts to use the design in a number of other settings in which the matching contributions have been included as a significant element in reform of the pension system. The review of the experience with matching contribution across this full range of settings provides important observations and some initial lessons for policy makers and analysts who may be considering or evaluating the use of this approach to increase pension coverage. |
CONTENTS
Part I. Introduction and Conceptual Issues
1. Early Lessons from Country Experience with Matching Contribution Schemes 3
Robert Holzmann, Richard Hinz, and David Tuesta
2. Policies to Encourage Private Pension Savings: Evidence from OECD Countries 27
Edward Whitehouse
Part II. High-Income Country Experience
3. Matching Contributions in 401(k) Plans in the United States 53
Nevin Adams, Dallas Salisbury, and Jack VanDerhei
4. Riester Pensions in Germany: Design, Dynamics, Targeting Success, and Crowding-In 81
Axel Borsch-Supan, Michela Coppola, and Anette Reil-Held
5. New Zealand’s Experience with the KiwiSaver Scheme 103
Geoff Rashbrooke
6. The Impact of Matching on Savings in the U.K. Savings Gateway Program 133
Will Price
7. Matching Defined Contribution Pension Schemes in Japan 145
Noriyuki Takayama
8. Matching Contributions and Compliance in Korea’s National Pension Program 161
Hyungpyo Moon
Part III. Middle-Income Country Experience
9. Complementing Chile’s Pensions with Subsidized Youth Employment and Contributions 179
Hermann von Gersdorff and Paula Benavides
10. Matching Contributions in Colombia, Mexico, and Peru: Experiences and Prospects 193
Luis Carranza, Angel Melguizo, and David Tuesta
Part IV. Developing Country Experience
11. China’s Pension Schemes for Rural and Urban Residents 217
Mark C. Dorfman, Dewen Wang, Philip O’Keefe, and Jie Cheng
12. Learning from the Early Experience of India’s Matching Defined Contribution Scheme 243
Robert Palacios and Renuka Sane
13. Using Prepaid Contributions to Cover Mobile Workers in Cape Verde and Tunisia 261
Antoine Delarue
14. Thailand’s Matching Defi ned Contribution Programs for the Informal Sector 275
Mitchell Wiener
Part V. Behavioral and Design Issues
15. Matching Contributions and Savings Outcomes: A Behavioral Economics Perspective 289
Brigitte C. Madrian
16. Implementation Issues in Low- and Middle-Income Countries 311
Robert Palacios and Mike Orszag
Noriyuki Takayama, "Pension Reform with Trust and Sustainability" (Chinese Version), published August 2012, CNY48, ISBN 978-7-208-10876-9/F・2119
CONTENTS前言中国的?老金改革:激励、?管及其政策??(中文版序) …… 高山?之 序2(?定?左院?) ?著者介? 第一? 日本:信?与安心的?老金改革…………………… 高山?之 第一章 日本公共?老金的?状 1 福利?老金赤字已成定局 2 600万?日元??出超的?老金平衡表 3 1998年度以后的社会保???担超?了国税?? 4 ?老金保???担之重在公共租税中尤?突出 5 福利?老金的空洞化与国民?老金一?在无声地演?着 6 再分配后收入的老少逆? 第二章 2004年?老金修改法案的主要内容 1 基本方? 2 保??的小幅上?与上限的法定化 3 特例期限与?去工?的解? 4 ?老金?付水准的下? 5 ?付水准的固定 6 已?在??老金的人的?老金?付会怎?? 7 国??担比例的?段性上? 8 ?累金的目?水准 9 在?老??老金的改善 10 按收入比例的?老金?付将下? 11 以70?以上的老人??象的在?老??老金 12 ?婚?的?老金分割 13 ?属?老金制度的?正 14 育儿援助政策的?充 15 残疾人?老金的改善 16 国民?老金保??拒??策 17 ?老金个人信息的定期通知 18 其他公共?老金的改善措施 19 企??老金部分的修改?目 第三章 ?于2004年?老金修改法案 -- ?激且僵硬的“?担的??性改革” 1 毎年1.5万?日元左右的定期?老金?担揄チ?? 2 不可遏制的厚生?老金的空洞化 3 被逐出??市?的年?人 4 ????的?束 5 失?的代价 6 ?老金保??提高将?致所得税、居民税、法人税的?征 7 平衡表如何?化 8 保????与?付的多与少的逆? 9 自我?牲与献身背后的慢不?心与不作? 10 ??用牛刀 11 能把未来方案的策?交?被?住手脚的厚生??省?? 12 已?裁定的?老金水准突破50% 13 ?付金?的?算方法越来越?? 14 ?何限定?整期限 15 挂羊??狗肉的宏????整 16 待遇?定型方式 17 已?推?的?付?始年?将?一?推? 18 ??所得的模型?老金突破50% 19 降低基??老金的?付水准是否合? 20 ?何将税收投入?老金 21 税金的浪?在揄チ 22 ?累金的拆零 23 有所??的?老金分割 24 ?属?老金中主?家庭的?惠 25 ?点数制的疑? 第四章 ?老金制度的?底改革 1 保????与?付直接相? 2 与?去??部分的区??? 3 国民?老金保??向收入比例型?? 4 基??老金的解体 5 向保??老金的?? 6 将公共?金(税金)用于??与?去相?的??出超 7 落后20年的直接与?接比率的修正 8 引?以?老金?目的的消?税 9 抑制?付的揄チ 10 提成制度的引? 11 健全平衡表的具体案例 12 公共?老金的??出超?可以?多少 第五章 瑞典-向名???制的?? 1 国内外日益?切的?注 2 改革的背景与?程 3 公共?老金制度的?底改革 4 名?保???? 5 ??与?付一?一??原?及其例外 6 ?老金保???于?期固定 7 接受?付的?始年?的??得到了解决 8 向按工??酬制的?? 9 自?安定装置的引? 10 公共?老金?付?的抑制 11 ??税方式的无端的批判 12 与?税方式基?上的?付制?老金的区? 13 基??老金向保??老金的?? 14 桔黄色的信 15 残疾人?老金、?属?老金的分? 第六章 コ国与法国 1 具有110年?史的コ国?老金制度 2 1972年改革 3 1992年改革 4 ?基数的?付?整 5 接受?付?始(退休)年?的推?的提前?施 6 ?人口因素的?注 7 ?用?象?大至??工 8 1999年的改革 9 科??代的?? 10 2001年的改革 11 李斯特?老金的?立 12 公共?老金保??的?状?? 13 ??普社会保障改革??会 14 コ国流的新的自?安定装置 15 “无法决策的国家”的犹疑 16 法国接受?付?始年??60? 17 ???期短的人的???? 18 社会保障目的税(CSG) 19 企??老金(AGIRC.ARRCO) 20 2003年改革 第七章 智利、新加坡、澳大利?等国 1 智利的?老金制度 2 巨?的?型成本 3 参保率的降低 4 高昂的?理成本 5 ?年?化激烈的投?收益 6 新加坡的?老金制度(CPF-中央公?金) 7 看不?的税金 8 名??付制 9 澳大利?的?老金制度 10 ???老金的社会化 11 一次性退休?付的情? 12 ?展中国家的?老金?? 13 ?型??国家的?老金?? 第八章 ?于向民?化和?累方式??的?老金?? 1 ?老金民?化? 2 斯蒂格利茨教授的?点 3 “待遇?定型支付”与“???定型支付” 4 “?累方式”与“?收?付制方式” 5 公共?老金?什?要用?收?付制方式??? 6 双重?担 7 世界?行提出的?? 8 彼蒂与麦吉利夫雷的激烈批判 9 ??森?阿?悖? 10 ?金的?利?作能否与人口老?化的??保持中立 11 被忽略的?型成本 12 零和游? 第九章 信?与安心−新的?老金故事 1 无?平衡表的厚生??省 2 平衡表的?害之? 3 ?解与争? 4 延??去妥当与否 5 ?老金是政治家的必修科目 6 ?政治的期待 第二? ?洲国家或地区的?老金??:激励、承?及其在退休后的作用…………高山?之? 第十章 公共?老金??:??力市?与?行?? 1 引言 2 ??力市???与退休年? 3 ?行情况 第十一章 中国?老保?制度的宏?分析:????与激励?? 1 引言 2 ?要?史:改革背景和省???制度 3 省???制度的分析:????与激励?? 4 ??和政策建? 第十二章 台湾:改革中的?制性???老金 1 引言 2 ?史背景 3 目前的制度 4 ?老基金的??分配和投??效 5 老年人的??地位 6 主要?? 7 未来?展 8 ?? 第十三章 香港的退休收入保障 1 引言 2 工作、退休和??力就? 3 社会保障的?要?展史 4 香港目前的老年收入保障制度 5 当代和下一代老年人的???? 6 潜在的?? 7 ?? 第十四章 印度的?老金制度 1 引言 2 目前?老金制度的?述 3 ?老金??的?行情况 4 目前老年人的??地位 5 激励与承??? 6 未来的政策?? 第三? 蛋?的滋味:??国家?老金??研究……………高山?之? 第十五章 新加坡的中央公?金制度:?一支柱的陷井 1 引言 2 新加坡的政治?? 3 新加坡目前的?老金制度安排 4 ?中央公?金的?价 5 改革的展望 第十六章 瑞典的?老金改革 1 瑞典?老金制度改革概述 2 改革者所面?的?? 3 从旧体制向新体制的?渡 4 新?老金制度描述 5 最??? 第十七章 英国?老金保?制度及其主要?? 1 引言 2 英国目前的?老保?制度 3 1980年以后的改革 4 ???老金??的法律??与管理框架 5 ???老金??的会?框架 6 ?累型?老金??的??与回? 7 ?老金基金??的管理 8 ?老金基金的投??? 9 ?于机?投?的??斯?? 10 ?? 第十八章 美国?老保?制度的新?? 1 引言 2 概述?老金??的??与特征 3 美国?老金??的?化与?展 4 ?? 第十九章 公共?老金改革的十年?程 1.引言 2.背景 3.定? 4.??学与人口?? 5.政治?? 6.?老金改革的模式 7.名????定制 8.?老金改革?? 9.?? 参考文献 后? |
Noriyuki Takayama ed. "Reforming Pensions for Civil and Military Servants" Published from Maruzen Co. Ltd., Tokyo, December 2011. JPY6,000 cloth, ISBN 978-4-621-08469-4
Pensions date back to the Roman Empire more than 2,000 years ago. Despite their long history, pensions for civil and military servants have attracted less attention in academic circles so far than those for workers in the private sector. However, in an environment of fiscal stringency and growing importance of inter- and intra-generational equity issues, pension arrangements for civil and military servants currently face many challenges. This volume provides a compilation of updated versions of the nine papers presented at the seminar on Reforming Pensions for Civil and Military Servants, held in Tokyo in January, 2011. Chapter 1 offers an up-to-date overview of pension schemes for civil and military servants in OECD countries. Chapters 2 to 9 contain analyses of civil service and military pensions in selected countries, including Australia, China, India, Indonesia, Japan, Korea, Malaysia, Singapore, the United Kingdom, and the United States. It covers key design features of pension schemes, parametric and/or systemic reforms undertaken or contemplated, and their rationale. It is hoped that, taken together, the studies compiled in this volume will help to further the understanding of the nature of pensions for civil and military servants in countries around the world, the challenges they face, and options for reforms. |
CONTENTS
Chapter 1: Pension Schemes for Public-Sector Workers: An International
Perspective
Edward Whitehouse
Chapter 2: Civil
Services and Military Retirement Income Provision in Australia
Hazel Bateman
and John Piggott
Chapter 3: Civil Service and Military Service
Pensions in China
Stuart H. Leckie
Chapter 4: Civil Service and Military Pensions in India
Renuka Sane
and Ajay Shah
Chapter 5: Civil Service and Military Pension
Reforms in Indonesia, Malaysia and Singapore
Mukul G. Asher and
Azad Singh Bali
Chapter 6: Civil Service Pension Arrangements in
Japan
Junichi Sakamoto
Chapter 7: Pension
Systems for Public Sector Employees in the Republic of Korea
Jae-Kyeong Kim
and Hyung-Pyo Moon
Chapter 8: Public Service Pension Reform in the
United Kingdom
Tamara Finkelstein and Joe Perkins
Chapter 9:
State and Local Pensions in the United States
Robert L.
Clark
Noriyuki Takayama ed. "Priority Challenges in Pension Administration," Published from Maruzen Co. Ltd., Tokyo, January 2011. $80.00 cloth, ISBN 978-4-621-08345-1
CONTENTS
Chapter 1: Collection of Social Contributions: Current Practice and Critical Issues
Stanford G. Ross
Chapter 2: The Use of Information and Communication Technologies to Improve Public Service Delivery and Recognition of Citizen Rights in Brazil
Rodrigo Ortiz D'Avila Assumpcao
Chapter 3: Customer-oriented Services and Information: Enhancing Public Pension Awareness in Canada and Why it Matters
Dominique La Salle
Chapter 4: Effective and Efficient ICT Strategies to Support Pension Administration in Denmark
Carsten Bodal and Anders Schmidt Hansen
Chapter 5: Extending Pension Coverage in Germany: The Employment Insurance Approach
Markus Sailer
Chapter 6: Pension Record-keeping Problems in Japan
Noriyuki Takayama
Chapter 7: Improving the Administration of Problem Groups in the National Pension System: The Case of Korea
Seong Sook Kim
Chapter 8: Focus on Client Orientation: Service Delivery of the Dutch State Pensions
Luc Boss
Chapter 9: Customer-oriented Services and Information: Experiences from Sweden
Paul Larsson, Arne Paulsson and Annika Sunden
Chapter 10: National Insurance Administration in the UK
Ian MacDonald
Chapter 11: Ensuring Appropriate Information Management and Data Quality at the United States Social Security Administration
Jerry Berson
Chapter 12: Recent Developments in the Collection of Social Contributions
Stanford G. Ross
Chapter 13: The Collection of Pension Contributions: A Comparative Review of Three Central European Countries
Tine Stanovnik
Chapter 14: An Analysis of Provident and Pension Fund Administration in Selected Asian Countries
Mukul Asher
Chapter 15: Future Challenges in Pension Administration
Chris Gibbon
Noriyuki Takayama and Martin Werding eds. "FERTILIY AND PUBLIC POLICY: How to Reverse the Trend of Declining Birth Rates," Published from the MIT Press, 2011. $35.00/£25.95 cloth, ISBN 978-0-262-01451-9, CESifo Seminar series
In 2050, world population growth is predicted to come almost to a halt. Shortly thereafter it may well start to shrink. A major reason behind this shift is the fertility decline that has taken place in many developed countries. In this book, experts discuss the appropriateness and effectiveness of using public policy to influence fertility decisions. Contributors discuss the general feasibility of public interventions in the area of fertility, analyze fertility patterns and policy design in such countries as Japan, South Korea, China, Sweden, and France, and offer theoretical analyses of parental fertility choices that provide an overview of a broad array of child-related policy instruments in a number of OECD and EU countries. CONTRIBUTORS: Gunnar Andersson, Reiko Aoki, Shalhevet Attar-Schwartz, Jonathan Bradshaw, Yoonyoung Cho, Alessandro Cigno, Tamotsu Kadoda, Yoko Konishi, Seiritsu Ogura, Xizhe Peng, Warren Sanderson, Noriyuki Takayama, Olivier Thevenon, and Martin Werding |
CONTENTS
Chapter 1: Fertility and Public Policy: An Introduction
Noriyuki Takayama and Martin Werding
Chapter 2: The Economics of the Family and Its Policy Implications: Why Should We Care about Fertility Outcomes?
Martin Werding
Chapter 3: Low Fertility and Population Aging in Germany and Japan: Prospects and Policies
Warren Sanderson
Chapter 4: Effects of Public Policies and the Labor Market on the Fertility of Japanese Women: Analyses of Municipal Data
Seiritsu Ogura and Tamotsu Kadoda
Chapter 5: On the Persistence of Low Birthrates in Japan
Reiko Aoki and Yoko Konishi
Chapter 6: An Evaluation of a Pronatal Subsidy in Korea: A Quasi-experimental Approach
Yoonyoung Cho
Chapter 7: Fertility Transition and Its Socioeconomic Impacts in China
Xizhe Peng
Chapter 8: Fertility and Social Policy
Jonathan Bradshaw and Shalhevet Attar-Schwartz
Chapter 9: Family Policies and Fertility in Sweden
Gunnar Andersson
Chapter 10: Does Fertility Respond to Work and Family-life Reconciliation Policies in France?
Olivier Thevenon
Chapter 11: Given That People Live Longer, Why Should We Worry That Fewer Are Born?
Alessandro Cigno
Holzmann, R., Robalino, D. and Takayama, N. eds. "Closing the Coverage Gap: Role of Social Pensions and Other Retirement Income Transfers," June 2009, World Bank. ISBN: 0-8213-7971-2 ISBN-13: 978-0-8213-7971-4 SKU: 17971
In high-income countries, the percent of the population covered under mandatory old-age pension programs is typically high but often incomplete; in low- and middle-income countries, coverage is low and even stagnant. At the same time, older people are less able to rely on family and community support as a result of growing urbanization and migration. And low-income workers and the poor simply cannot save enough to prepare for their old age. As a response, many countries are considering or have already implemented various forms of retirement income transfers aiming to guarantee a minimum level of income during old age. Despite the growing popularity of these programs, research assessing their success has been limited. Closing the Coverage Gap: The Role of Social Pensions and Other Retirement Income Transfers brings together a group of renowned academics, policy analysts, and policy makers working in the area of pensions and public policy. They discuss how social pensions and other retirement income transfers can be used to close the coverage gap of mandatory pension systems: how they operate, when they can be appropriate, and how to make them work. The book reviews the experiences of low-, middle-, and high-income countries with the design and implementation of retirement income transfers. The book analyzes design issues related to financing, incentives, targeting mechanisms, and administration, and also identifies the role of promising instruments such as matching contributions to reach parts of the informal sector. |
CONTENTS
Chapter 1: Overview and Preliminary Policy Guidance
David A. Robalino and Robert Holzmann
Chapter 2: Measuring the Coverage Gap
Alvaro Forteza, Leonardo Luccheti, and Montserrat Pallares-Miralles
Chapter 3: Pensions and Old-Age Poverty
Stephen Kidd and Edward Whitehouse
Chapter 4: Rights-Based Approach to Social Security Coverage Expansion
Krzysztof Hagemejer
Chapter 5: Social Pensions in Low-Income Countries
Armando Barrientos
Chapter 6: Social Pensions in Four Middle-Income Countries
Mukul G. Asher
Chapter 7: Social Pensions in High-Income Countries
Mark Pearson and Edward Whitehouse
Chapter 8: Pension Coverage in Japan
Noriuki Takayama
Chapter 9: The Role of Social Pensions in the Republic of Korea
Hyungpyo Moon
Chapter 10: Incentive Effects of Retirement Income Transfers
John Piggot, David A. Robalino, and Sergi Jimenez-Martin
Chapter 11: Financing Social Pensions
Alain Jousten
Chapter 12: Defining Eligibility for Social Pensions: A View from a Social Assistance Perspective
Margaret Grosh and Phillippe Leite
Chapter 13: Matching Defined Contributions: A Way to Increase Pension Coverage
Robert Palacios and David A. Robalino
Chapter 14: Administration of Social Pension Programs
Oleksiy Sluchynsky
source and copyright holder: International Bank for Reconstruction and Development, The World Bank
Takayama, N. ed. "Pensions in Asia: Incentives, Compliance and Their Role in Retirement," Tokyo: Maruzen, February 2005. ISBN4-621-07566-7・/h6>
Asia is a region of demographic variety. Several Asian countries are currently experiencing a very rapid population ageing. The pension schemes in Asian countries face a big challenge under the population ageing. |
CONTENTS
Preface
Chapter 1 Public Pension Schemes: Labour Market and Compliance Issues by W. M. McGillivray
Chapter 2 A Macro Analysis of China Pension Pooling System: Financial Problem and Incentive Issuesby Vivian Y. Chen
Chapter 3 Taiwan: Compulsory Occupational Pensions Under Reform by Shean-Bii Chiu
Chapter 4 Retirement Income Protection in Hong Kong by Iris Chi
Chapter 5 Country Report: India by R. Vaidyanathan
Chapter 6 Reforming Social Security Pensions in Japan: A Balance Sheet Approach by Noriyuki Takayama
Chapter 7 The Past and Future of Korean Pension System: A Proposal for a Coordinated Development of Public-Private Pensions by Hanam S. Phang
Chapter 8 Malaysia: Pension & Financial Market Reforms and Key Issues
on Governance by R. Thillainathan
Chapter 9 Retirement Financing in Singapore by Mukul G. Asher
Chapter 10 Pension Fund, Provident Fund and Social Security System in Thailand by Niwat Kanjanaphoomin
Takayama, N. ed. "Taste of Pie: Searching for Better Pension Provisions in Developed Countries," Tokyo: Maruzen, 2003. ISBN4-621-07227-7
The social security pension systems in developed countries are now quite unpopular, especially among the youth. Policymakers in these countries have been forced to reduce the generosity of the existing pay-as-you-go defined benefit pensions. Part of the lost benefits is replaced by pensions from funded defined contribution individual accounts, but many difficulties still remain. When it comes to social security pensions, by far the most important question is whether or not they are worth buying. For funded occupational and personal pensions, investment risk, increased administration costs, annuitization and distributional concerns are still major obstacles. Missing are better instruments to minimize risks involved in the funded system. No contributory pension scheme, public or private, PAYG or funded, DB or DC, can meet its objectives unless contributors comply. Contributors today are ultimately concerned with the taste of pie, rather than its size or its division. Are the pension provisions incentive-compatible? Is compliance effectively enforced? This volume is devoted to searching for better pension provisions in developed countries. It contains reports on major developed countries including Australia, Canada, Germany, Italy, Japan, Singapore, Sweden, the United Kingdom and the United States. It also deals with critical pension reform issues. |
CONTENTS
Preface
Part I Country Report
Chapter 1 The Australian Approach to Retirement Income Provision by Hazel Bateman and John Piggott
Chapter 2 Sustaining Public Pensions in Canada: A Tale of Two Reforms by Ken Battle
Chapter 3 A New Chapter in German Pension Policy: The "2001 Pension Reform" Based on a Paradigm Shift by Winfried Schmaehl
Chapter 4 Italy: The Search for a Sustainable PAYG Pension System by Daniele Franco
Chapter 5 Pension Arrangements in the Oldest Country: The Japanese Case by Noriyuki Takayama
Chapter 6 Singapore's Central Provident Fund: The Pitfalls of a Single Tier System by Mukul Asher and David Newman
Chapter 7 Pension Reform in Sweden by Edward Palmer
Chapter 8 The United Kingdom Pension System: Key Issues by David Blake
Chapter 9 New Trends in US Pensions by Olivia Mitchell
Part II Issues on Pension Reform
Chapter 10 Evaluating Fundamental Pension Reform in Japan and in the United States by Gary Burtless
Chapter 11 Ten Years of Public Pensions Reform by Warren R. McGillivray
The Morning After in Japan: Its Declining Population, Too Generous Pensions and a Weakened Economy," Tokyo: Maruzen, 1998. ISBN4-621-04542-3
In the late 1990's, the asset bubble in Japan finally burst. The party, so to speak, is now over. And as the "morning after" dawns, Japan is left with a population in decline, a disproportionately large cohort of pensioners, and an ailing economy with which to support them. As to when exactly the Japanese themselves will wake up to this situation remains an open question. This volume studies the economic consequences of a declining population and of too generous a benefit of the social security pension. It aims to deepen the public understanding as to how the present social security programs are working and whether or not the programs are sustainable. It clarifies the relative economic status of the elderly including those in extended family and of the active population, explains causes of a move towards early retirement and of higher labor force participation for the male elderly in Japan, identifies the main factors underlying the different employment status of married women, examines the wealth formation process throughout the life cycle including household saving behavior, and shows how bequest motivation has functioned in Japan. |