Vera Thorstensen, Lucas Ferraz, Emerson Marçal, Sunday, December 4, 2011 - 00:00

Persistent exchange-rate misalignments have created trade frictions worldwide. This column argues that the WTO should adopt trade rules that allow nations to neutralise the effects of exchange-rate misalignments. Otherwise, the WTO might become a diplomatic-juridical fiction.

CEPR Policy Research