(UM12-22) - Retirement in Japan and the United States: Cross-national Comparisons using the Japanese Study of Aging and Retirement (JSTAR) and the U.S. Health and Retirement Study (HRS)
Olivia S. Mitchell, John W. R. Phillips and Yong Yu
Cross-national comparisons of data from developed countries have provided many insights into the retirement process and policy. We make use of new data from the Japanese Study of Aging and Retirement (JSTAR) and the U.S. Health and Retirement Study (HRS) to consider the roles of health, wealth, family, and other factors in the timing of retirement. We exploit important differences between Japan and the U.S. Though both countries have relatively high employment at older ages, the Japanese have longer life expectancy, higher personal savings rates, and a lower public pension eligibility age. Our analysis, the first to compare these two rich data sources, seeks to learn about how these various factors influence retirement behavior.