This paper provides a broad overview of the potential impact of low inflation (deflation) on US financial markets and institutions. It is argued that the contemporary experience of Japan and the historical experience of the U.S. in the 1920s and 30s offer only limited insights into the potential...

Persistent cycles of devaluation, debt repudiation, and financial crisis have been recurrent themes in Latin America and elsewhere. This study focuses on one such event, namely, the Mexican peso devaluation, debt, and financial-sector crisis of 1994-95. This paper utilizes an event-study...