This paper develops a multi-sector, small open economy Dynamic Stochastic General Equilibrium model, which includes the accumulation of human capital, built via public expenditures in education and health. Four possible fiscal rules are examined for total public investment in infrastructure,...

We present detailed empirical evidence from Greece that around elections, misgovernance results in significant increases in wildfires and tax evasion and has important economic implications: these effects have led to the destruction of property or loss of government revenue estimated at 8 % of...