Global Aging and Declining World Interest Rates.

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 increased wages; higher wages, in turn, will be passed on to pension benefits, exacerbati...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Hoffmaister, Alexander W.
Otros Autores: Guajardo, Jaime, Catalán, Mario
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2008.
Colección:IMF Working Papers.
Temas:
Interest rates > Cyprus > Econometric models.
Population aging > Cyprus > Econometric models.
Pensions > Cyprus > Econometric models.
Taux d'intérêt > Chypre > Modèles économétriques.
Vieillissement de la population > Chypre > Modèles économétriques.
Pensions > Chypre > Modèles économétriques.
Interest rates > Econometric models
Pensions > Econometric models
Cyprus
Acceso en línea:Texto completo
Descripción
Sumario: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 increased wages; higher wages, in turn, will be passed on to pension benefits, exacerbating aging-related fiscal pressures. The pass-through effect will be stronger if pensions are indexed to nominal wages rather than prices. Using an overlapping generations model, the paper illustrates the interest rates transmission mechanism and its interaction with pension indexation for the case of.
Notas:6. Decomposition of Pension Expenditure-to-GNI-Ratios-Pension Reform and Interest Rate ScenariosReferences.
Descripción Física:1 online resource (42 pages)
ISBN:9781451914139
145191413X

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