Because excessive specialization can be risky, diversification matters for sustainable development. A case study of Madagascar, this paper begins by briefly discussing economic and institutional diversification and presenting a simple model of production possibilities to illuminate the possible...

The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A particular focus is on the size of monetary policy committees, the degree of centralization, and the representation of relative economic size in the voting rights of regional (or...

This policy note investigates whether the current level of public support to environment-friendly technologies is sufficient to allow European countries to respond to the multiple challenges posed by climate change and other environmental concerns. We first lay out the justifications for...