Cyprus: Selected Issues

February 21, 2007

Preview Citation

Format: Chicago

Cyprus: Selected Issues, (USA: International Monetary Fund, 2007) accessed November 23, 2024

Summary

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.

Subject: Aging, Expenditure, Labor, Pension spending, Pensions, Population and demographics, Retirement, Wages

Keywords: Aging, CR, Global, ISCR, Labor force, Lump sum, Pension benefits, Pension spending, Pension system, Pensions, Present value, Private sector, Retirement, Wage earnings, Wage indexation, Wages

Publication Details

Pages:

63
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/071
Stock No:

1CYPEA2007001
ISBN:

9781451809893
ISSN:

1934-7685

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