The study considers some of the factors determining budget balance. In particular, it investigates the relationship between budget balance and inflation. The analysis focuses on European states in the period between 1999 and 2007, and concludes that the relationship between budget balance and...

Differentiation between public and private goods is very complex and difficult. In this article, authors overview these definitions and also the theories about private and public goods to apply this knowledge in the determination of the social welfare functions of forests, the utilization and...