Abstract The economic policy forum discusses the question of whether we need a new international monetary system. Renate Ohr argues that various interventionist policy measures such as fixed exchange rates or a tobin-tax are inappropriate in order to avoid high volatility. Instead of a new...

Abstract The latest financial crisis has been caused by a mixture of state and market failure, argues Otmar Issing. To avoid future crises, more transparency is needed - not by gathering more information, but by gathering it systematically and thereby creating “intelligent transparency”....