This review contains a summary of work by J.-L. Gervais and the author on the
operator approach to 2d gravity. Special emphasis is placed on the construction
of local observables -the Liouville exponentials and the Liouville field itself
- and the underlying algebra of chiral vertex operators. The double quantum
group structure arising from the presence of two screening charges is discussed
and the generalized algebra and field operators are derived. In the last part,
we show that our construction gives rise to a natural definition of a quantum
tau function, which is a noncommutative version of the classical
group-theoretic representation of the Liouville fields by Leznov and Saveliev.Comment: 38 pages, LaTex file. Proceedings of the Vth International Conference
on Mathematical Physics, Strings and Quantum gravity, Alushta, Ukraine 199