Editorial
On April 19–20, 2001 the Oesterreichische Nationalbank sponsored a Workshop organized by Richard Clarida (Columbia University), Helmut Frisch (TU Wien) and Eduard Hochreiter (OeNB) on “Exchange Rate and Monetary Policy Issues”. It took place at the Institute for Advanced Studies, Vienna. A number of papers presented at this workshop is being made available to a broader audience in the Working Paper series of the Bank. This volume, which contains the key note speech by Otmar Issing, is the first of a collection forthcoming in the Working Paper series.