Arango-Arango, Carlos A.; Betancourt-García, Yanneth Rocío - In: Latin American Journal of Central Banking (LAJCB) 6 (2025) 4, pp. 1-11
In this paper, we study the coexistence of cash and electronic payments introducing some distortions in the payments markets to understand the widespread use of cash, specially in emerging countries. Following Lagos and Wright (2005) we model explicitly some frictions in the exchange process...