BOOKS BY GIORGIO RAGAZZI

The design and regulation of highway tariffs may be quite different depending upon the objectives pursued by the State. If the aim is to protect consumers, tariffs should be tied to the concessionaire’s profit and revised frequently. Instead, fixing the tariff in advance for the entire period of the concession is a better solution if the State’s purpose is to maximize the sum obtained from assigning the concession. Features and merits of the two regulatory systems are discussed, including the problems raised by new investments and unexpected events. The price cap appears to be an intermediate solution which fails however to promote productivity and cost reductions, while making regulation more difficult. In the light of the above, the paper describes the evolution of tariff regulation in Italy, from the origin to present time.

Gli atti dell’VIII Riunione Scientifica del SIET evidenziano il ruolo centrale dei trasporti nel quadro dell’ampliamento dell’Unione Europea. Con lo scopo di perseguire obiettivi quali il risparmio energetico, la sicurezza dei trasporti, il contenimento degli effetti ambientali, il volume tratta problematiche legate all’omogeneizzazione organizzativa e normativa del settore e al ruolo dei trasporti e della logistica nelle realtà distrettuali. I contributi si focalizzano sulle criticità del trasporto locale e urbano e sulle ricadute che il sistema dei trasporti produce sull’ambiente.

The practice of charging to users the full cost of highways and infrastructures is in contrast with the criterion of setting tariffs at social marginal costs, and tends over time to transform user charges in a hidden form of (regressive) taxation. Regulating natural monopolies like highways through a price cap is criticized, and reasons are given to prefer a public company to private investors, and unbundling to operating concessions. The experience of privatisation and regulation of the main Italian highways operator is analysed.

Public opinion needs few, clear indicators to evaluate plans and financial results of the public sector. Of the two main indicators relevant for European fiscal monitoring: i) net indebtedness would be better defined excluding trades in marketable assets, whether real or financial, and ii) debt would be better defined at market price instead of at nominal value. At national level, various definitions of cash needs («fabbisogno ») risk to provide contradictory information and appear to be mainly a source of confusion. Attention should rather be given to capital gains/losses which are a major albeit neglected cause for changes in debt and public sector net worth.