3. See most recently John W. Crow, "Floating Exchange Rates
Here to Stay," C.D. Howe Policy Commentary, No. 70
(Toronto: C.D. Howe Institute, April 1995), and Horst Schulman,
"Comment," in Peter Kenen (ed.), Managing the World
Economy: Fifty Years After Bretton Woods (Washington, D.C.:
Institute for international Economics, September 1994), pp. 386-94.