Studies on intergenerational redistribution polices of the 80s, 90s, and 2000s in Japan

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This paper uses the generational accounting method to analyze the intergenerational redistribution policies adopted by Japan in the 1980s, 1990s, and the 2000s. Many previous studies that use generational accounting consider the extent of intergenerational redistribution at a single point in time and conduct simulations to determine how policy changes will improve intergenerational imbalances. In contrast, this paper examines intergenerational redistribution using a time series, not just a single point.The results show that the policies implemented in the 1990s led to the transfer of burdens onto future generations while reducing the burden of the present generation, including those in their 20s. This situation lasted through the first half of the 2000s, but changed in the latter half of the 2000s, when the lifetime net burden of the present generation grew heavier while that of the future generation diminished. However, the decline in the lifetime net burden of the future generation was achieved only by increasing the lifetime net burden of those in the young generation, not by reducing the remaining lifetime net benefit of the retired generation. Moreover, a comparison of population projections made in 1992 and in 2002 reveals that population numbers were revised downward. In other words, the population aged more and the birthrate declined more than expected, increasing the lifetime net burden of the future generation by approximately 32%.