NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Satoshi Shimizutani

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Working Papers

March 2014Option Value of Work, Health Status, and Retirement Decisions in Japan: Evidence from the Japanese Study on Aging and Retirement (JSTAR)
with Takashi Oshio, Mayu Fujii: w20001
This study examined the factors that affect the retirement decisions of the middle-aged and elderly in Japan, focusing especially on their earnings, public pension benefits, and health status. Using two-year panel data from the JSTAR and applying the OV model proposed by Stock and Wise (1990a, 1990b), we found that the probability of retirement has a negative and significant correlation with the OV of work, and that correlation does not depend on the health status. Our counter-factual simulation based on the OV model showed that, if the probability of being enrolled in the disability program were zero, the average years of work when individuals are in their 50s and 60s would increase. However, it should be emphasized that, in Japan—where being enrolled in the disability program is unlikely...

Forthcoming: Option Value of Work, Health Status, and Retirement Decisions in Japan: Evidence from the Japanese Study on Aging and Retirement (JSTAR), Satoshi Shimizutani, Mayu Fujii, Takashi Oshio. in Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement, Wise. 2014

May 2011Disability Pension Program and Labor Force Participation in Japan: A Historical Perspective
with Takashi Oshio: w17052
This paper utilizes historical information to explore the relationship between labor force participation of middle aged and old people and the disability program in Japan. In particular, we explore the time series dimension to identify what has determined the trend in disability program participation over time and relate it with the labor supply. We find that mortality and health measures have been largely unrelated to the disability program participation rates. While major revisions to the disability program have slightly expanded the eligibility for DI programs, the program participation is still very low; thus, the effect on labor force participation is very limited in Japan, which is in contrast with some European countries that have high take up rates, inducing early retirement.

Published: Takashi Oshio and Satoshi Shimizutani, "Disability pension program and labor force participation in Japan: A Historical Perspective," in David A. Wise ed., Social Security Programs and Retirement around the World: Historical Trends in Mortality and Health, Employment, and Disability Insurance Participation and Reforms, 2012, pp.391-417

November 2004Aged-Care Support in Japan: Perspectives and Challenges
with Olivia S. Mitchell, John Piggott: w10882
This study explores economic aspects of the market for long term care (LTC) with a special focus on Japan. First, we describe the LTC system in Japan as presently implemented, and we highlight some aspects of the program that are novel and potentially of interest to other countries seeking models for long-term care provision. Next, we discuss alternative projections of Japanese LTC utilization and costs. Finally, since Japan appears likely to experience important shortfalls in LTC in the future, we discuss whether such services might be more efficiently organized and financed under alternate forms of provision.

Published: Mitchell, Olivia S., John Piggott & Satoshi Shimizutani. “Aged-Care Support in Japan: Perspectives and Challenges.” Benefits Quarterly. 1st Quarter 2006 22(1):7-18.

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