Department of Economics
Burwood, Victoria 3125
Institutional Affiliation: Deakin University
NBER Working Papers and Publications
|January 2020||The Impact of Bequest Motives on Retirement Behavior in Japan: A Theoretical and Empirical Analysis|
with Charles Yuji Horioka, Emin Gahramanov, Aziz Hayat: w26621
In this paper, we conduct a theoretical and empirical analysis of the impact of bequest motives on the work and retirement behavior of households in Japan using micro data from the Preference Parameters Study of Osaka University. Our empirical findings are consistent with our theoretical model and show that respondents with an altruistic or strategic/exchange bequest motive work more at the intensive margin than those without any bequest motive but that respondents with a strategic or exchange bequest motive work less at the extensive margin (i.e., retire earlier) than those without any bequest motive. Our findings for the strategic or exchange motive suggest that respondents with such a motive tend to work harder than others before they retire so that they can earn more, leave a larger be...
|May 2016||Why Do Children Take Care of Their Elderly Parents? Are the Japanese Any Different?|
with Charles Yuji Horioka, Emin Gahramanov, Aziz Hayat: w22245
In this paper, we conduct a theoretical analysis of why individuals provide care and attention to their elderly parents using a two-period overlapping generations model with endogenous saving and a “contest success function” and test this model using micro data from a Japanese household survey, the Osaka University Preference Parameter Study. To summarize our main findings, we find that the Japanese are more likely to live with (or near) their elderly parents and/or to provide care and attention to them if they expect to receive a bequest from them, which constitutes strong support for the selfish bequest motive or the exchange motive (much stronger than in the United States), but we find that their caregiving behavior is also heavily influenced by the strength of their altruism toward th...
Published: Charles Yuji Horioka & Emin Gahramanov & Aziz Hayat & Xueli Tang, 2018. "WHY DO CHILDREN TAKE CARE OF THEIR ELDERLY PARENTS? ARE THE JAPANESE ANY DIFFERENT?," International Economic Review, vol 59(1), pages 113-136. citation courtesy of