Cyprus Selected Issues

This Selected Issues paper explores the economic consequences of aging and its impact on long-term fiscal sustainability for Cyprus. The study analyzes the potential macroeconomic impact of different approaches to deal with the fiscal costs of aging. It goes beyond a simple quantification of the fis...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2007
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Cyprus  |b Selected Issues 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2007 
300 |a 63 pages 
651 4 |a Cyprus 
653 |a Population & demography 
653 |a Economics of the Handicapped 
653 |a Private Pensions 
653 |a Pension spending 
653 |a Labour; income economics 
653 |a Retirement Policies 
653 |a Non-labor Market Discrimination 
653 |a Social Security and Public Pensions 
653 |a Nonwage Labor Costs and Benefits 
653 |a Wages, Compensation, and Labor Costs: General 
653 |a Aging 
653 |a Economics of the Elderly 
653 |a Population aging 
653 |a Labor 
653 |a Population and demographics 
653 |a Expenditure 
653 |a Retirement 
653 |a Demography 
653 |a Pensions 
653 |a Wages 
653 |a Public Finance 
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520 |a This Selected Issues paper explores the economic consequences of aging and its impact on long-term fiscal sustainability for Cyprus. The study analyzes the potential macroeconomic impact of different approaches to deal with the fiscal costs of aging. It goes beyond a simple quantification of the fiscal impact by explicitly examining the trade-offs of alternative policies within the context of a general equilibrium overlapping generation framework. It is concluded that addressing the fiscal consequences of aging will require increasing the retirement age to 65 years, followed by further increases to keep up with demographic trends