Journal of the Latin American and Caribbean Economic Association, Fall 2010 Contents: • Editors' Summary • Reforming Pensions: Lessons from Economic Theory and Some Policy Directions By Nicholas Barr and Peter Diamond • Containing Systemic Risk: Paradigm-Based Perspectives on Regulatory Reform By Augusto De la Torre and Alain Ize • Labor Market Rigidities and Informality in Colombia By Camilo Mondragón-Vélez, Ximena Peña, and Daniel Wills • Communicational Bias in Monetary Policy: Can Words Forecast Deeds? By Pablo Pincheira and Mauricio Calani

Journal of the Latin American and Caribbean Economic Association, Fall 2010 Contents: • Editors' Summary • Reforming Pensions: Lessons from Economic Theory and Some Policy DirectionsBy Nicholas Barr and Peter Diamond • Containing Systemic Risk: Paradigm-Based Perspectives on Regulatory ReformBy Augusto De la Torre and Alain Ize • Labor Market Rigidities and Informality in ColombiaBy Camilo Mondragón-Vélez, Ximena Peña, and Daniel Wills • Communicational Bias in Monetary Policy: Can Words Forecast Deeds?By Pablo Pincheira and Mauricio Calani

This semiannual journal from the Latin American and Caribbean Economic Association (LACEA) provides a forum for influential economists and policymakers from the region to share high-quality research directly applied to policy issues within and among those countries. Contents: Long-Term Care in Latin America and the Caribbean: Theory and Policy Considerations Martín Caruso Bloeck, Sebastian Galiani, and Pablo Ibarrarán Pension Income Indexation: A Mean-Variance Approach Rodrigo lluberas The Impact of Police Presence on Drug-Trade-Related Violence Emiliano Tealde Productivity and Reallocation: Evidence from Ecuadorian Firm-Level Data Anson T. Y. Ho, Kim P. Huynh, and David T. Jacho-Chávez Can a Small Social Pension Promote Labor Force Participation? Evidence from the Colombia Mayor Program Tobias Pfutze and Carlos Rodríguez-Castelán Sovereign Credit Ratings in Latin America and the Caribbean: History and Impact on Bond Spreads Inés Bustillo, Daniel Perrotti, and Helvia Velloso

This semiannual journal from the Latin American and Caribbean Economic Association (LACEA) provides a forum for influential economists and policymakers from the region to share high-quality research directly applied to policy issues within and among those countries. Contents: 1. Cash Transfers in Latin America: Effects on Poverty and Redistribution Verónica Amarante and Martín Brun 2. How Sensitive Is Regional Poverty Measurement in Latin America to the Value of the Poverty Line? R. Andrés Castañeda, Santiago Garriga, Leonardo Gasparini, Leonardo R. Lucchetti, and Daniel Valderrama 3. Homicides and the Age of Criminal Responsibility: A Density Discontinuity Approach Francisco J. M. Costa, João S. de Faria, Felipe S. Iachan, and Bárbara Caballero 4. Fool’s Gold: The Impact of Venezuelan Currency Devaluations on Multinational Stock Prices Dany Bahar, Carlos A. Molina, and Miguel Angel Santos 5. Downward Wage Rigidities in the Mexican Labor Market: 1996–2011 Laura Juarez and Daniel Casarin de la Cabada 6. I Sell My Vote, and So What? Incidence, Social Bias, and Correlates of Clientelism in Colombia Leopoldo Fergusson, Carlos Molina, and Juan Felipe Riaño

Contents: Editors' Summary A Comparison of Product Price Targeting and Other Monetary Anchor Options for Commodity Exporters in Latin America Jeffrey A. Frankel Inflation Targeting in Latin America: Toward a Monetary Union? Marc Hofstetter Is Violence against Union Members in Colombia Systematic and Targeted? Daniel Mejía and María José Uribe The Dynamics of Income Inequality in Mexico since NAFTA Geraldo Esquivel

This semiannual journal from the Latin American and Caribbean Economic Association (LACEA) provides a forum for influential economists and policymakers from the region to share high-quality research directly applied to policy issues within and among those countries.

Dr. Gunter Pauli is challenging the green movement he has been so much a part of to do better, to do more. He is the entrepreneur who launched Ecover; those products are probably in many of your homes. He built the largest ecologically-sound factory in the world. His participation in the Club of Rome and the founding of Zero Emissions Research Institute (ZERI) has made an immense contribution to sustainability both in terms of research, public awareness and articulating a visionary direction. He has dedicated himself to teaching and the hands-on implementation of projects that have brought healthy environments, good nutrition, health care and jobs in sustainable commerce to a myriad of places in the world.