IMPACTS OF AGEING POPULATION ON MONETARY AND EXCHANGE RATE MANAGEMENT IN SINGAPORE

Autor:	Kim-Heng Tan, Paul S. L. Yip
Rok vydání:	2008
Předmět:	Macroeconomics Economics and Econometrics education.field_of_study Population ageing Exchange rate Population Monetary policy Economics education Market liquidity
Zdroj:	The Singapore Economic Review. 53:245-259
ISSN:	1793-6837 0217-5908
Popis:	This policy note finds that the ageing of the population in Singapore will cause a reversal of the current net Central Provident Fund (CPF) contribution into a substantial net CPF withdrawal from 2025, with a peak occurring at 2035. The result is qualitatively robust to changes in the underlying assumptions of the projection. The paper then highlights the implications of this change on the exchange rate and monetary management in Singapore. Finally, the paper proposes policy measures that can help (a) mop up the excess liquidity due to the net CPF withdrawals; and (b) maintain the Monetary Authority of Singapore (MAS)'s influence on Singapore's exchange rate at a reasonable level in the longer future.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::11db077531ed1047ac6a49c7371206ae https://doi.org/10.1142/s0217590808002926 Zobrazit plný text záznamu Plný text ve formátu PDF