Economic studies on environmental degradation generally have a narrow focus on per capita income as an explanatory variable, and often fail to distinguish among the various types of environmental quality or damage. This paper addresses both problems by examining the effect of relative equality...

This paper examines Chairman Greenspan's recent claim that central bankers around the world have been operating 'as if' monetary policy were constrained by gold that backs up reserves. The paper argues, instead, that central banks in flexible exchange rate regimes operate with an overnight...