Free-riding on Liquidity in the Colombian LVPS

Número: 
977
Publicado: 
Clasificación JEL: 
C23, E42, G20
Palabras clave: 
Payment System, Free Riding on Liquidity, Liquidity Hoarding, Quantile Regression Models

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Lina Fernanda Torres-Gutierrez, Gonzalo Ossa-Stipcianos, Edwin Mauricio Parra-Rodriguez, Egberto Alexander Riveros, Alvaro José Martinez-Monroy, Julián Andrés Gomez-Duran, Juan Sebastián Rojas-Moreno

The functioning of large-value payment systems (LVPSs) can be affected when some of its participants voluntarily decide to delay their payments until they can totally fund them with the payments received from other participants. This behaviour, known as t