Date of Degree


Document Type


Degree Name





Michael Grossman

Committee Members

Harold Hochman

Salih Naftci

Subject Categories



The study examines the controversial, inconsistent empirical results of the effect of social security on personal savings and analyzes the interdependency in the context of social security between the personal savings and labor supply behavior of elderly workers.

Very few studies in this field have been done, and it has not theoretically and empirically been accomplished yet in Japan. Time-series data are used for 1946-1982, and the methods of technique are ordinary least squares and a simultaneous-equation model in the life cycle framework.

The study finds that social security affects personal savings and that the benefit effect dominates the retirement effect concerning the hypothesized dual effects. The study also identifies an interdependency between personal savings and the labor force participation of the elderly in Japan.


Digital reproduction from the UMI microform.

Included in

Economics Commons



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