The paper presents an estimate of the expenditure requirements to be used as a benchmark in the identification of best practices in the spending behavior of the municipalities. In order to distinguish the determinants of theoretical expenditure requirements with respect to those relating to...

The Stability and Growth Pact sets a medium-term target for fiscal policy of a budgetary position 'close to balance or in surplus'. This addition to the deficit rule defined by the Maastricht Treaty has been interpreted as an attempt to reconciliate the objective of sound public finances with...