This semiannual journal from the Latin American and Caribbean Economic Association (LACEA) provides a forum for influential economists and policymakers to share high-quality research directly applied to policy issues within and among those countries. Contents Include: - The Impact of the Basel Accord on Bank Credit Growth: A Cross-Country Study Ralph Chami and Adolfo Barajas (IMF) and Thomas Cosimano (University of Notre Dame -Distributional Effects of Crises: The Financial Channel Marina Halac and Sergio L. Schmukler (World Bank) -Growth and Adjustment in East Asia and Latin America José De Gregorio (Banco Central de Chile) and Jong-Wha Lee (Korea University) - Labor Market Adjustment in Chile Kevin Cowan, Alejandro Micco, and Carmen Pages (IADB) -A Menu of Minimum Wage Variables for Evaluating Wage and Employment Effects: Evidence from Brazil Sara Lemos (University of Leicester)