Currency boards, more so than other exchange rate regimes, have come in and out of fashion. Defined by a fixed exchange rate with full convertibility, central bank liabilities backed with foreign exchange reserves, and a high cost of exiting the regime, currency boards were common in colonial...

The narrative of development economics is now infused with discussions of institutions. Economists debate whether institutionsor other factors altogether (geography, culture, or religion)are central to development. In this volume, leading scholars in development economics view institutions from...

Economists disagree on what ails the economies of continental western Europe, which are widely perceived to be underperforming in terms of productivity and other metrics. Is it some deficiency in their economic systemin economic institutions or cultural attitudes? Is it some effect of their...