Colombian paper considers reaction functions in payments
Working paper examines how different entities react to failures in payment system
How different entities react to payment system failures depends on the type of failure in question, as well as the role each entity plays within the system, according to research published by the Central Bank of Colombia.
The working paper, Reaction Functions of the Participants in Colombia's Large-value Payment System, by Constanza Martínez and Freddy Cepeda, evaluate a few of the most recent failures to hit one of Colombia's systems.
The failures in question range from a problem with the
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