Esprit de Currency

Finance and Development, June 2011, pp. 30-33, 2011

4 Pages Posted: 15 Jun 2011

See all articles by Douglas A. Irwin

Douglas A. Irwin

Dartmouth College - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: June 2011


This article examines the link between exchange rate policies and trade disputes, from the Great Depression and the Bretton Woods era to the present day. The article notes the absence of IMF and WTO rules on the issue; the interaction between exchange rates and trade policy falls in a gap between the two organizations. Unless the IMF and WTO cooperate to clarify rules and obligations in this area, exchange rate policies will be a continuing source of trade friction between countries and could lead to unilateral action outside multilateral disciplines.

Suggested Citation

Irwin, Douglas A., Esprit de Currency (June 2011). Finance and Development, June 2011, pp. 30-33, 2011. Available at SSRN:

Douglas A. Irwin (Contact Author)

Dartmouth College - Department of Economics ( email )

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Hanover, NH 03755
United States
603-646-2942 (Phone)
603-646-2122 (Fax)

National Bureau of Economic Research (NBER)

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Cambridge, MA 02138
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