The paper presents a model to examine the effects of the Singapore government's recent policy to reduce the employer CPF (Central Provident Fund) contribution rate, amidst an economic recession. The author demonstrates that real consumption must fall. However, the CPF cut may lead to increased...

"As Singapore progresses from a newly-independent nation to a more mature economy, the economic challenges it faces have evolved. In the 50 years following Singapore's independence, the country tackled economic challenges relating to a fledgling nation, that included launching onto a path of...