The series, "Borradores de economía" (Economic Drafts), is a spanish and english publication from The Direction of Economic Studies of The Banco de la República. These drafts are temporary, the opinion & possible mistakes on them are the exclusive responsibility of the authors and its contents do not engage The Banco de la República or its Board of Directors.

For maintenance reasons, some of the drafts will not be available during the next few days.

If you are in the city of Bogotá & you need a draft, go to Carrera 7 # 14-78, tenth floor, economic publications (publicaciones económicas) where you will be given a paper copy. If not, please write to us at mbermule@banrep.gov.co

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