The Italian public sector is characterized by a moderate expenditure decentralization,associated with an highly centralized fiscal system. As a consequence, the State expendituresplay a fundamental role in determining the disposable resources at local level, interms of direct provision of public...

The analysis presented in this paper deals with two main issues: the one of debt sustainability, meant in the particular acceptation proposed in this article, and the one of the effects of debt decumulation for the various territorial communities, in particular for the weak areas of Italy...

Interjurisdictional Differentials and their Effects; State and Local Borrowing The paper puts forward, using an extensive documentation included in the «Report 2011 on the Municipal Finance» (293 pages, 70 tables), a crucial issue: in Italy was actually made a Municipal Finance Reform, defined...

In relation to the finances of Regions – particularly, to the determination of “fundamental expenses” referable to the constraint specified in the letter m), 2nd paragraph, of the article 117 of Italian Constitution – in the Delegation Act on Fiscal Federalism (Law n. 42 of 5 May 2009),...

The term “federalism” does not have a clear meaning: it must be specifically defined in the context in which it will be applied it. Regarding the Italian case, this definition can be found in the Fiscal Federalism Delegation Act (FFDA), Law of 5th May 2009, No. 42 (FFDA), which specifies the...

Revised April 13, 2010The Governors of Massachusetts, Connecticut, Rhode Island and several other states have recently proposed employer tax credits as measures to fight high unemployment in their states. Such policies are also being considered at the federal level. In the Working Paper, Jeff...