There have been several proposals to reduce the observed volatility of flexible exchange rates. The paper reviews two recent opposite views on the appropriateness of a common world currency for this purpose. Referring to an adequately formulated theory of world money, it is shown that there is...

Contents: 1 - Jürgen von Hagen, Jean Pisani-Ferry - Forum Economique Franco-Allemand /Deutsch-Französisches Wirtschaftspolitisches Forum -- 4 - Pierre Jacquet, Jean Pisani-Ferry, Dominique Strauss-Kahn - Trade Rules and Global Governance: A long term Agenda -- 21 - Reinhard H. Schmidt - The...

Over the past decade, most OECD countries have begun to reform fundamentally their agricultural policies. Some dispute has emerged over the extent to which policy-making at the international level has triggered these reforms. These disputes raise important theoretical questions about how we...

Jean Pisani-Ferry and Indhira Santos observe that the crisis and the national responses to it have started to reshape the global economy. But beyond the specifics of shock transmission, the crisis has also exposed that, in spite of regional integration and the emergence of new economic powers,...