Over the past decade, the European Union has been characterized by an explosion of expenditure, insufficient revenue, high deficits and a lack of budget discipline. Financial markets in Europe are currently dealing with enormous government debts, poor government balance sheets and a weakening banking system. The purpose of this paper is to investigate the origins of the current Euro-crisis and specifically identify the extent to which it will affect the nation of Italy going forward. To understand Italy's stance amid the Euro-crisis, we proceed as follows: First, a historical background section will develop the fundamental issues that have developed in Europe over time leading to the current situation. Next, a discussion about Italian economics and politics will identify Italy's central policy issues placed in the context of the Euro-crisis. Subsequently, Italy's issues with tax evasion will be covered illustrating its history and enforcement addendums going forward. The final section of this paper will present a forward-looking prediction about the fate of Italy and the Euro-zone and will include some of the necessary steps toward avoiding an international economic collapse.

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Thesis (Ph. D.)--Yale University, 1993. / Includes bibliographical references (leaves 187-195).

Thesis (Ph. D.)--University of California, San Diego, 2005. / Vita. Includes bibliographical references (leaves 146-159).

Persistent government budget deficits and government debt have become major concerns in both developed and developing countries. This study investigates the impact of a budget deficit on transport infrastructure investment in South Africa. Quarterly time series data, covering the period 1990q1- 2009q4, was used in this project. The study tests for stationarity using the Augmented Dickey- Fuller and Phillips Perron; it tests for cointegration using the Johansen (1991, 1995) methodology. A vector error correction model is used as an estimation technique. The results of this study show that a budget deficit has a negative impact on transport infrastructure investment in South Africa.

This thesis examines the work of Robert Eisner of Northwestern University concerning the appropriate measure of the federal government budget deficit. Eisner proposes specific adjustments to be incorporated into the calculation of the federal budget deficit in order to account for the effects of inflation. These adjustments effect the federal budget deficit via the effect of inflation on the level of federal debt outstanding and the interaction between this debt and the deficit. The focus of this study is a comparison of the Quantity theory and the Income-Expenditure theory of national income determination (in the tradition of Friedman and Meiselman, 1963) using Eisner’s adjusted measure of the deficit for the period 1955 - 1984. This comparison is made between adjusted and unadjusted deficits as measured by the National Income and Product Accounts and as measured by the Cyclically Adjusted (or High Employment) budget. / Master of Arts

This paper presents a framework for exploring the sustainability of U.S. domestic budget deficits in the presence of the currently experienced capital inflows. A 'sustainable' deficit-financing policy is defined as one in which the combination of debt-financing and seigniorage precludes the creation of a large unanticipated inflation to wipe out the debt in real terms. The model implemented is a rational expectations model of the open economy and two separate cases are analyzed. In Case I, domestic money creation is held 'fixed' and any increases in the deficit are financed by the sale of one-year discounted government bonds to domestic and foreign residents. In Case II domestic money and bonds are both endogenously determined. The asset market, in both the cases, is characterized by perfect capital mobility as defined by uncovered nominal interest parity. Real interest parity, however, does not exist as domestic and foreign goods are not perfect substitutes. In Case I, the solution of the domestic price level exhibits price-neutrality with respect to the deficits. The nominal and real exchange rates, however, are found to appreciate with increases in deficits and the situation is aggravated further by an exodus of domestic real wealth. In Case II, on the other hand, deficits are found to be inflationary and both nominal and real exchange rates depreciate with increases in the deficit. Furthermore, increases in the amount of debt being rolled over cause even greater upward pressures on domestic inflation and result in the further weakening of the dollar. The solutions also provide us with an expression for the maximum amount of debt that can be rolled over without causing the domestic price level to explode or the currency to collapse. This 'critical value' of debt is found to bear an inverse relationship to the rate of growth of the domestic deficit. Bond-financed deficits are therefore non-sustainable in both the cases discussed, and the arithmetic, it seems, is unpleasant indeed. / Ph. D.

In many federal countries, local governments run large deficits, even when fiscal supervision by state authorities is tight. I investigate to which extent party alignment of governments and fiscal supervisors influences budget deficits. The dataset includes 427 German local governments for the period 2000–2004. I exploit a period after a far-reaching institutional reform that entirely re-distributed political powers on both the government level and the fiscal supervisor level. Results do not show that party alignments of governments and supervisors (co-partisanship) drive short-term deficits. Instead, I find that the ideology of partisan governments and supervisors matters: left-wing local governments run higher deficits than their right-wing counterparts; left-wing supervisors tolerate higher deficits than right-wing supervisors. These findings imply that political independence for fiscal supervisors is recommended.

This thesis examines the results of public budgets in the CR in the period 1993 to 2009. This is a hot topic, with the growth of public debt is becoming increasingly important. The aim of this work is a comprehensive analysis of public finances, specifically addressing issues of access to public deficit and reform public finances. The theoretical part is focused on defining the area being examined and the theory describing this area have their roots back more than sixty years ago in the USA. Although the idea is relatively old data, their content is still current. This is particularly important now that the growing indebtedness of many countries of the European Union, including the Czech Republic. The paper reviewed the current action by governments in the management of public finances. In the analytical part, I analyze using appropriate statistical data trends, correlations and patterns of past and current periods. Based on the trends observed and outline possible scenarios for future development. Reported research findings are interpreted in the form of text, supplemented by a series of graphic illustrations. Not forgetting the situation in the Czech Republic comparison with other developing countries of the European Union. The conclusion summarizes the findings and recommendations and outline likely future developments.

Ho Wai-yee. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (leaves 52-53). / Abstracts in English and Chinese. / Abstract (English) --- p.i / Abstract (Chinese) --- p.ii / Acknowledgement --- p.iii / Table of contents --- p.iv / Chapter Chapter1 / Chapter 1.1 --- Introduction --- p.1 / Chapter 1.2 --- Literature Review --- p.4 / Chapter 1.3 --- Organization of the thesis --- p.8 / Chapter Chapter2 / Chapter 2.1 --- Introduction --- p.9 / Chapter 2.2 --- The Model --- p.9 / Chapter 2.3 --- Effects of government expenditure --- p.11 / Chapter 2.4 --- Summary / Chapter Chapter3 / Chapter 3.1 --- Introduction --- p.16 / Chapter 3.2 --- The Model --- p.16 / Chapter 3.3 --- The capital mobile case --- p.21 / Chapter 3.4 --- Summary --- p.25 / Chapter Chapter4 / Chapter 4.1 --- Introduction --- p.27 / Chapter 4.2 --- The Model --- p.27 / Chapter 4.3 --- Dynamics --- p.33 / Chapter 4.4 --- Current Account Balance --- p.35 / Chapter 4.5 --- Comparative Statics --- p.36 / Chapter 4.6 --- Welfare --- p.38 / Chapter 4.7 --- Summary --- p.41 / Chapter Chapter5 / Conclusion --- p.43 / Appendix --- p.46 / Reference --- p.52