  The classically perfect Fixed-Point fermion action for lattice QCD, a highly
improved discretization of the continuum theory that preserves chiral symmetry,
is constructed in this thesis and a parallel work by T. Jorg. In the framework
of the BGR collaboration, we perform studies in quenched light hadron
spectroscopy with this new action in order to examine its chiral and scaling
properties and investigate in detail the chiral limit of pseudoscalar mesons.
Topological finite-volume artifacts are identified and removed, and the
coefficient of the quenched chiral logarithm is measured. The results show that
the Fixed-Point action allows to simulate at quark masses corresponding to
PS/V<0.3, has small scaling violations in hadron masses and reproduces the
continuum energy-momentum dispersion relation very well.
