<i> Il primo anno di applicazione del Patto di stabilità interno: una valutazione </i> (di Fabrizio Balassone, Daniele Franco e Stefania Zotteri) - ABSTRACT: A Domestic Stability Pact has been introduced in Italy with the budget law for the year 1999. The Pact aims at involving Regions and other local...

The distinguished authors in this volume address the fundamental causes for such heterogeneous international experiences, placing particular emphasis on the role of institutions. They demonstrate how the study of economic development is increasingly linked to the development of institutions,...

In this paper, we examine the sustainability of euro area public finances against the backdrop of population ageing after the 2008–2009 recession. We argue that ageing costs may be higher than projected by the Working Group on Ageing Populations (AWG) of the EU's Economic Policy...

The generalised economic downturn in developed countries and the significant constraints on both their monetary and fiscal policies have prompted new infrastructure investments as a tool to promote economic growth. However, both the critical analysis of the existing academic literature and the...

Allingham and Sandmo demonstrated that under decreasing absolute risk aversion, when the penalty for tax evasion fell on evaded income, an increase in the tax rate might increase, decrease, or leave unaltered the level of evaded income. Yitzhaki resolved the ambiguity by considering the impact...

<i> Il Patto di stabilità interno due anni dopo: norme più «morbide», risultati più deludenti </i> (di Fabrizio Balassone e Stefania Zotteri) - ABSTRACT: A Domestic Stability Pact (DSP) has been introduced in Italy in 1998, in order to involve Regions and other local authorities in the effort to...

The Stability and Growth Pact is under fire. Problems have appeared in sticking to the rules. Proposals to reform the Pact or ditch it altogether abound. But is the Pact a flawed fiscal rule? Against established criteria for an ideal fiscal rule, its design and compliance mechanisms fare...