Carlos A. Arango-Arango
Carlos A. Arango-Arango is a principal researcher and advisor in the Payment Systems and Banking Operations Division at the Central Bank of Colombia. His current research focuses on payments economics and financial inclusion. During his carrier, he has published research in industrial organization, labor and monetary economics and has worked at the Canadian Central Bank and the World Bank. He received his Ph.D. in economics from the University of Illinois at Urbana-Champaign.
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This paper studies tiering in the case of a national payment system in an emerging economy: the large-value payment system Sistemas de Cuentas de Depósito (CUD, the Spanish acronym for the Deposit Accounts System) operated by the Colombian central bank.