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An economic analysis of leisure-proportional benefits in a small open economy
Wataru Kobayashi*
Wataru Kobayashi
Affiliation: Faculty of Economics, Asia University, Tokyo, Japan
 0000-0002-5613-779X
Junichiro Takahata * 
Article | Year: 2025 | Pages: 239 - 250 | Volume: 49 | Issue: 2 Received: July 4, 2024 | Accepted: April 5, 2025 | Published online: June 7, 2025
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FULL ARTICLE
FIGURES & DATA
REFERENCES
CROSSMARK POLICY
METRICS
LICENCING
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Effect
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ND
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PT
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PB
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PT
& PB
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Aaron effect
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If
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－
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－
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－
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－
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If
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＋
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＋
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＋
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＋
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Other effects
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0
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－
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－
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－
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Total
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If
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－
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－
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－
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－
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If
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＋
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－
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－
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－
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Effect
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ND
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PT
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PB
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PT
& PB
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Aaron effect
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If
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－
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－
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0
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0
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If
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＋
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＋
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0
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0
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DIY effect6
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－
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－
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Other effects
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0
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＋
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＋
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＋
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Total
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－
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－
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－
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－
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6 DIY denotes Disposable Income in Young Period. Source: Authors.
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ND
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PT
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PB
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PT
& PB
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Aaron effect
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If
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＋
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＋
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＋
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＋
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If
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－
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－
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－
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－
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Aaron, H., 1966. The Social Insurance Paradox. Canadian Journal of Economics and Political Science, 32(3), pp. 371-374 [ CrossRef]
Andersen, T. and Bhattacharya, J., 2013. Unfunded Pensions and Endogenous Labor Supply. Macroeconomic Dynamics, 17(5), pp. 971-997 [ CrossRef]
van Groezen, B., Leers, T. and Mejidam, L., 2003. Social Security and Endogenous Fertility: Pensions and Child Allowances as Siamese Twin. Journal of Public Economics, 87(2), pp. 233-251 [ CrossRef]
Kobayashi, W. and Takahata, J., 2022. A Funded Pension System with Endogenous Retirement. Asian Journal of Economic Modelling, 10(3), pp. 207-215 [ CrossRef]
Liu, P. and Thøgersen, J., 2020. Pay-As-You-Go Pensions and Endogenous Retirement. Macroeconomic Dynamics, 24(7), pp. 1700-1719 [ CrossRef]
Miyazaki, K., 2019. Optimal Pay-as-You-Go Social Security with Endogenous Retirement. Macroeconomic Dynamics, 23(2), pp. 870-887 [ CrossRef]
Samuelson, P., 1975. Optimum Social Security in a Life-Cycle Growth Model. International Economic Review, 16(3), pp. 539-544 [ CrossRef]
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June, 2025
II/2025
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