The ECB Working Paper Series seeks to disseminate economic research on issues that are relevant to the various tasks and functions of the ECB. The Series invites submissions of research work by ECB staff and visitors. Papers by researchers not affiliated with the ECB may also be considered for...

Los Angeles has had the worst traffic for the longest time out of any American city with many of its residents commuting for over an hour to and from work. The solution to this problem has existed for over 50 years but political forces have stopped its implementation. With the funding problems...