Recent empirical papers that refined the analysis started by several academics argue against sharp fluctuations in the domestic currency. Instead, mitigating excessive volatility, especially in developing countries with rather shallow capital markets and limited access to hedging instruments, seems to be an appropriate policy. This kind of monetary and financial framework that ensures systemic stability has been my main task during the last years.
This means giving priority to avoiding "the next crisis" and  2  BIS Review 73/2009  building buffers to minimize the effects of disruptions. In my country, the decades of macroeconomic instability and recurrent crises were not harmless in terms of welfare.