Several stabilization attempts in the 1980s in Argentina and Brazil followed a two-stage approach. In the first stage, some partial and temporary measures were taken to achieve a very drastic fall in the inflation rate. In the second stage, which sometimes never materialized, the fiscal reform...

The paper analyses the effect that the change from a fixed to a floating exchange rate regime that took place in Mexico in December 1994 had on the currency composition of corporate debt. In particular, the paper asks whether a fixed exchange rate regime biases corporate borrowing towards...