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Política Cambiaria y Estabilidad Económica: La Alternativa de las Zonas de Intervención

The aim of this study is to examine the way in which the establishment of a system of exchange rate flotation bands can help to harmonize the goals of price and real exchange rate stability. The reconciliation of these two goals is a complex task for the authorities in economies where saving rates are too low to prevent a massive inflow of capital occurring.