This report highlights the connections between the different dimensions of quality of life and analyzes the inherent causal relationships. These range from clear linkages such as the health benefits of green open space for urban populations to less evident relationships such as the way that...

A central puzzle in international finance is that real exchange rates are volatile and, in stark contradiction to effcient risk-sharing, negatively correlated with cross-country consumption ratios. This paper shows that incomplete asset markets and a low price elasticity of tradables can account...