Fiscal distress of local governments and municipalities is a non-negligible component of the public finance turmoil after the Great Recession. In this paper we consider a dataset of Italian municipalities over the period 2000-2012 and look for the main budget determinants of local default....

The role of state lotteries in the economy is changing. Still being only one of the sources of revenues to state budgets, financing of more and more causes relies heavily on their performance. This articles describes the performance of lotteries in Central and Eastern Europe in times of...