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...

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...

1. Introduction -- 2. European Integration's First Three Decades. The Challenge of Immigration. Early Steps: Freedom of Movement for Whom? -- 3. 1985-1991: High Hopes and Community Leadership. 1985: Putting Immigration on the Agenda. Guidelines on Migration. The Single European Act. Article 8a...