Global Aging and Declining World Interest Rates : Macroeconomic Insurance Through Pension Reform in Cyprus »
Series: IMF Working Papers
Author(s): Alexander Hoffmaister , Jaime Guajardo , and Mario Catalan
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2008
Keywords: Pension reform, dynamic general equilibrium model, population aging, pension, benefits, pension benefits, retirement,
How will the world-wide decline in real interest rates associated with global aging affect small open economies (SOEs) with aging populations? Lower interest rates will result in higher capital-labor ratios and inc...