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1. Introduction -- 2. Notes on a Definition of the Concept of Public Debt -- 2.1 Introduction -- 2.2 Analogies between borrowing and unfunded obligations -- 2.3 Differences between borrowing and unfunded obligations -- 2.4 The U.K. pension system case -- 2.5 Economic and policy implications -- Notes -- 3. The Public Debt Perception Issue -- 3.1 Introduction -- 3.2 Public debt illusion: a brief overview -- 3.3 Funded debt perception -- 3.4 Unfunded debt perception -- 3.5 Concluding remarks -- Notes -- 4. The Fulfilment of Unfunded Obligations and the Problem of Population Growth: An Application of Baumol's Law -- 4.1 Introduction -- 4.2 The model -- 4.3 Concluding remarks -- Notes -- 5. Public Choice Implications of Unfunded Debt -- 5.1 Introduction -- 5.2 The median voter theorem and unfunded obligations -- 5.3 Unfunded obligations fulfilment within a median voter framework: a simple model -- 5.4 The effects of the population growth on the level of unfunded obligations fulfillment -- 5.5 The choice of the median voter's optimum contribution rate -- 5.6 Concluding remarks -- Notes -- 6. The Interest Group Theory and Unfunded Obligations -- 6.1 Introduction -- 6.2 Interest groups and the political process -- 6.3 Interest groups and unfunded obligations -- 6.4 Concluding remarks -- Notes -- 7. An Attempt at Empirical Investigation -- 7.1 Introduction -- 7.2 Some preliminary methodological questions -- 7.3 The pension equation: cross-section analysis -- 7.4 The pension equation: time-series analysis -- 7.5 OLS results -- 7.6 Concluding remarks -- Notes -- 8. Conclusions.

Cultural heritage is a complex and elusive concept, constantly evolving through time, and combining cultural, aesthetic, symbolic, spiritual, historical and economic values. The Handbook on the Economics of Cultural Heritage outlines the contribution of economics to the design and analysis of cultural heritage policies and to addressing issues related to the conservation, management and enhancement of heritage. -- The Handbook takes a multidisciplinary approach, using cultural economics as a theoretical framework to illustrate how crucial and stimulating cross-disciplinary dialogue actually is. Contributors scrutinise the co-existence of cultural and economic values as well as the new challenges that arise from changes brought about by technology, and relationships between the different actors engaged in the production, distribution and consumption of heritage services. The roles of public, private and non-profit organizations are also explored. Case studies underpin the discussion, demonstrating the clear and vital link between theory and practice. --This highly unique Handbook will prove a fascinating and informative read for academics, researchers, students and policymakers with an interest in cultural economics.

Cultural Economics and Cultural Policies offers a unique guide to the state of the art in cultural economics. First, it alerts scholars and students to the necessity for careful definition and measurement of the `cultural sector'. Second, it affords examples of how economic analysis can shed light on the motivation of creative and performing artists and of artistic enterprises. Third, Cultural Economics and Cultural Policies widens the discussion of public policy towards the arts beyond general economic appraisal of arguments for government financial support. It does so by considering the government's role in defining property rights in artistic products and in regulating as well as financing the arts; examining how the criteria for government support are actually applied. Cultural Economics and Cultural Policies will be of interest to economists, students and policy makers

A notable feature in cultural life is the growing demand to preserve and promote public access to historical buildings and sites, and artistic treasures of the past. Governments are increasingly involved in financing and regulating private attempts to meet this growing demand as well as extending their own provision of these treasures in state and locally owned museums and galleries. These developments raise important issues about the scope, content, and relevance of heritagepolicies in today's world. Written by two leading figures in the field of cultural economics, this authoritative book fo

In this paper, we aim at evaluating from an economic perspective the recent Italian legislation on transparency to investigate whether the potentialities of transparency as a tool to improve performance and integrity are fully exploited. We first construct a synthetic indicator (CTI) consisting of two sub-indicators, CTI Integrity and CTI Performance, which are able to describe in numerical terms the overall degree of transparency of Italian public administrations as well as the two different aspects of the public activity's transparency. Then, using as a sample of Italian municipalities, we address the question whether there is a relation between the fulfillment of transparency obligations and both the institutional quality and the performance of the public administration activity. Our preliminary results suggest that our transparency indicators show a satisfactory correlation with widely used measures of the quality of institutions as well as with the official data on municipalities public spending performance. ; info:eu-repo/semantics/publishedVersion