The paper analyzes the relationship between trade policy and environmental protection. National and global environmental issues are distinguished. In principle, there is no conflict between an institutional order for international trade and national environmental policy. Protectionism against...

This paper analyzes institutional arrangements for exchange rate systems and reviews what we know. It looks at the foreign exchange market, different balance of payment situations in which countries find themselves and the necessary exchange rate adjustments. It studies the options that are...

Die Diskussion um flexible versus fixe Wechselkurse und die Bemühungen um stabilere Wechselkurse, etwa im Rahmen des europäischen WährungsSystems, durch Präferenzzonen (Williamson 1985) oder einen Goldstandard ohne Gold (McKinnon 1988) geben der Literatur um die Mechanismen zum Ausgleich der...