Hoffmaister, Alexander W.; Catalan, Mario; Guajardo, Jaime - In: Cyprus Economic Policy Review 1 (2007) 1, pp. 3-25
This paper examines the challenges to the Cypriot pension system posed by aging, and builds the case for pension reform based on a small open economy overlapping generations model in the tradition of Auerbach-Kotlikoff. In the absence of reforms, the model suggests that tax increases needed to...