<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2619-6573</journal-id>
<journal-title><![CDATA[Ensayos de Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Ens. Econ.]]></abbrev-journal-title>
<issn>2619-6573</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2619-65732017000200035</article-id>
<article-id pub-id-type="doi">10.15446/ede.v27n51.69114</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Los regímenes cambiarlos en América Latina]]></article-title>
<article-title xml:lang="en"><![CDATA[Exchange Rate Regimes in Latin America]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Nudelsman]]></surname>
<given-names><![CDATA[Susana]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Buenos Aires Facultad de Ciencias Económicas Instituto de Investigaciones Económicas]]></institution>
<addr-line><![CDATA[Buenos Aires ]]></addr-line>
<country>Argentina</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<volume>27</volume>
<numero>51</numero>
<fpage>35</fpage>
<lpage>56</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S2619-65732017000200035&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S2619-65732017000200035&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S2619-65732017000200035&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Aunque el fin de los acuerdos de Bretton Woods Inauguró la era de los tipos de cambio flotantes, el mundo muestra en la actualidad una diversidad de arreglos cambiarios. Las alternativas cambiarias extremas no son una panacea. Los regímenes de flotación administrada son una herramienta sensata de política económica. El tipo de cambio fue una pieza crucial en los programas heterodoxos de estabilización y de fijación total implementados en América Latina en las décadas de los ochenta y los noventa. A partir de los años 2000, la región se ha movido hacia una mayor flexibilidad cambiaria. Estas economías experimentaron los dilemas derivados del miedo a flotar y posteriormente del miedo a apreciar. La flotación con metas de inflación está en boga, pero los países también acuden a la intervención cambiaria. La apreciación de las monedas locales y la falta de flexibilidad cambiaria han sido factores adversos para estas economías. JEL: B22, E42, F02, F43.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Although the end of the Bretton Woods agreements inaugurated the era of floating exchange rates, the world currently displays a variety of exchange arrangements. Extreme exchange rate alternatives are not a panacea. Managed floating regimes are a sensible economic policy tool. The exchange rate was a crucial element in the heterodox stabilization and total fixation programs implemented in Latin America in the 1980s and 1990s. Since the 2000s, the region has moved towards greater exchange rate flexibility. These economies experienced the dilemmas derived from the fear of floating and, later, from the fear of appreciation. Floating cum inflation targeting is in vogue, but countries also resort to exchange rate intervention. The appreciation of local currencies and the lack of exchange rate flexibility have been adverse factors for these economies. JEL: B22, E42, F02, F43.]]></p></abstract>
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<kwd lng="es"><![CDATA[macroeconomía de economías abiertas]]></kwd>
<kwd lng="es"><![CDATA[impactos económicos de la globalización]]></kwd>
<kwd lng="en"><![CDATA[exchange rates]]></kwd>
<kwd lng="en"><![CDATA[international monetary arrangement]]></kwd>
<kwd lng="en"><![CDATA[macroeconomics of open economies]]></kwd>
<kwd lng="en"><![CDATA[economic impacts of globalization]]></kwd>
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