The Tobin tax idea, developed during the 1970s as a tax on foreign-exchange transactions, has found its way back into the academic and policy debates, since the Copenhagen World Social Summit and the G7 Summit in early 1995 at the latest. At both events, proposals were put forward to impose a...

The efforts of the central banks of Western industrial countries to stabilize exchange rates following the Louvre Agreement demonstrated yet again how difficult it can be to influence events in the foreign exchange markets. What factors are currently affecting exchange rates? What significance...