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 Economics of Latin American Art: Creativity Patterns and Rates of Return Sebastian Edwards (UCLA) Privatization in Latin America: What Does the Evidence Say? Alberto Chong (IADB) and Florencio Lopez-de-Silanes (Yale University) Multinationals and Linkages: An Empirical Investigation Laura Alfaro (Harvard Business School) and Andres Rodriguez-Clare (IADB) On the Consequences of Sudden Stops Pablo E. Guidotti (Universidad Torcuato di Tella, Argentina), Federico Sturzenegger (Universidad Torcuato di Tella, Argentina), and Agustin Villar (Bank for International Settlements) Effects of Foreign Exchange Intervention under Public Information: The Chilean Case Matias Tapia (Canco Central de Chile) and Andrea Tokman (Banco Central de Chile)