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This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and fiscal competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary and fiscal cooperation between Europe and America. The spillover effects of monetary policy are negative while the spillover effects of fiscal policy are positive. The policy targets are price stability and full employment. The policy makers follow either cold-turkey or gradualist strategies. Policy expectations are adaptive or rational. The world economy consists of two, three or more regions.

Nine years ago, Kenneth Abbott published an article exhorting international lawyers to read and master regime theory, arguing that it had multiple uses for the study of international law.1 He went as far as to call for a 'joint discipline" that would bridge the gap between international relations theory (IR) and international law (IL). Several years later, one of us followed suit with an article mapping the history of the two fields and setting forth an agenda for joint research. 2 Since then, political scientists and international lawyers have been reading and drawing on one another's work with increasing frequency and for a wide range of purposes.3 Explicitly interdisciplinary articles have won the Francis Deak Prize, awarded for the best work by a younger scholar in this Journal, for the past two years running;4 the publication of an interdisciplinary analysis of treaty law in the Harvard International Law journal prompted a lively exchange on the need to pay attention to legal as well as political details;5 and the Hague Academy of International Law has scheduled a short course on international law and international relations for its millennial lectures in the year 2000. Further, the American Society of International Law and the Academic Council on the United Nations System sponsor joint summer workshops explicitly designed to bring young IR and IL scholars together to explore the overlap between their disciplines.

The fourth annual meeting of the International Wool Study Group composed of representatives of twenty or more wool exporting and importing countries convened at London on October 2, 1950 to review the current wool problems arising from reduced supply and increased demand and the ensuing rise in wool prices.

Judgments of the Administrative Tribunal of the International Labor Organization Upon Complaints Made Against the United Nations Educational, Scientific and Cultural Organization: On November 30, 1955, the Legal Adviser of the United Nations Educational, Scientific and Cultural Organization (UNESCO) transmitted to the Court a resolution of the 42d session of die UNESCO Executive Board dated November 25, 1955, under which the Board, acting within the framework of Article XII of the Statute of the Administrative Tribunal of the International Labor Organization (ILO), had decided to challenge the decisions rendered by the Tribunal on April 26, 1955, in die Leff, Duberg and Wilcox cases and on October 29, 1955, in the Bernstein case, and to refer die question of their validity to the International Court. The Board had decided to put to die Court die following questions: 1) had die ILO Administrative Tribunal been competent, under Article II of its Statute, to hear the complaints introduced against UNESCO on February 5, 1955, by Messrs. Duberg and Leff and Mrs. Wilcox, and on June 28, 1955 by Mrs. Bernstein: 2) in the case of an affirmative answer to the first question, a) had the Administrative Tribunal been competent to determine whether the power of die UNESCO Director-General not to renew fixed-term appointments had been exercised for the good of the service and the interest of the organization, and b) had die Administrative Tribunal been competent to pronounce on the attitude which the UNESCO Director-General, under the terms of die UNESCO constitution, should maintain in his relations with a member state, particularly as regarded the execution of the policy of the government authorities of that member state; and 3) in any case, what was the validity of the decisions given by die Administrative Tribunal in the four cases in question. Following receipt of die request for an advisory opinion, the Court fixed April 30, 1956, as the time-limit within which written statements might be submitted by any state entitled to appear before the Court, or any international organization considered by the president of die Court as likely to be able to furnish information on the questions referred to the Court, and reserved the rest of the procedure for further decision.