I. Introduction, 456. —II. Input-output model tracing the impact of changes in the prices of imports on the prices of domestic products, 457.— III. Application of this model to Colombia, 458. — IV. Conclusion, 461.

The pros and cons of bank mergers and multiple-office banking are in the forefront of bank policy consideration today [8, p. 19] Commercial banks have Joined the industrial and merchandising files., as well as the transportation companies, to sweil a rising tide of merger; The Comptroller of the Currency has reported that nearly 2, 000 banks with resources of over $40 billion, were acquired by other banks between 1950 and 1962, inclusive, [47, p. ll].

The boom stock market is a well known phenomenon of our time. The investor (and public) interest in the market, however, does not seem to be shared by the monetary policy makers. Certainly, if we use the 1920's as the benchmark, the Federal Reserveexhibits considerably less anxiety over the present boom market than it did then.