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Molti autori hanno accolto il passaggio a tassi di cambio fluttuanti come si aspettavano con risultati di bassa inflazione, la disoccupazione esquilibri nella bilancia dei pagamenti . Tuttavia , il nuovo sistema presenta due forti oscillazioni giornaliere dei tassi di cambio , imponendo rischi indesiderati sulle imprese. Così , la spinta verso tassi di cambio più stabili è sempre intensa .L'articolo analizza la progressiva stabilizzazione dei tassi di cambio attraverso la creazione di zone monetarie . Many authors welcomed the shift to floating exchange rates as they expected it to result in lower inflation, unemployment and balance of payments disequilibria. However, the new system exhibits two sharp daily fluctuations of exchange rates, imposing unwelcome risks on enterprises. Thus, the urge towards more stable exchange rates is becoming intense. The paper analyses the gradual stabilisation of exchange rates through the establishment of monetary zones. JEL: F32, E31, F33

Many authors welcomed the shift to floating exchange rates as they expected it to result in lower inflation, unemployment and balance of payments disequilibria. However, the new system exhibits two sharp daily fluctuations of exchange rates, imposing unwelcome risks on enterprises. Thus, the urge towards more stable exchange rates is becoming intense. The paper analyses the gradual stabilisation of exchange rates through the establishment of monetary zones. JEL: F32, E31, F33