The Effects of Increasing the Eligibility Age for Public Pension on Individual Labor Supply: Evidence from Japan
2020/02/11
研討會日期 : 2020-02-11
時間 : 10:30
主講人 : Mr. Nobuhiko Nakazawa
主持人 : Professor Tzu-Ting Yang
地點 : Conference Room B110
演講者簡介 : Mr. Nakazawa will receive his Ph.D. in Economics from University of California, San Diego in 2020. His research interests are Public Economics, Labor Economics, and Applied Microeconomics. He is applying for a position of the Institute of Economics, Academia Sinica now.
演講摘要 : This paper investigates the effects of increasing the eligibility age for public pension on workers’ retirement decisions, focusing on recent Japanese public pension reforms. In Japan, the pensionable age for Employees’ Pension Insurance benefits gradually increased from 60 to 65 for males over the course of a decade. Using individual-level restricted-use data and a regression discontinuity design, I find that raising the pensionable age for flat-rate benefits by one year increases male employment at the critical ages by about 7-8 percentage points. Individual labor supply responses are heterogeneous across closeness to the implementation date due to anticipatory responses. I also find some evidence of spillovers from an affected husband to his wife and adult children and effects on other labor market outcomes such as savings.
