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Cyprus: Selected Issues and Statistical Appendix

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 106

Publication date: March 2005

ISBN: 9781451809848

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Labor , Economics- Macroeconomics , Industries - Hospitality Travel and Tourism , ISCR , CR , Cyprus , wage , euro , Cyprus pound , export , nominal wage , indexation mechanism , competitiveness ranking , cost increase , contract clause , determination process , tight peg , market-to-PPP exchange rate ratio , Labor markets , Employment , Wages , Real wages , Europe , Global

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Summary

This Selected Issues paper and Statistical Appendix analyzes labor market institutions and reforms for Cyprus. The paper describes the legal and institutional framework of the Cypriot labor market, and discusses the voluntary framework for negotiations, the degree of unionization and the system of tripartism, the wage setting mechanism, and labor market programs. The paper makes an assessment of the flexibility and efficiency of the Cypriot labor market, and in particular, the wage-setting mechanism. It also examines the trends and developments in the external competitiveness of Cyprus.