Bargaining over the terms of multilateral lending can be a prolonged process. We model failure to come to quick agreement as a screening device. Policy makers who find conditionality especially costly delay to signal their type. We show that increased costs to not reaching agreement, whether...

The notes in this compilation - prepared by selected monetary policy experts - analyse similarities and differences in the crisis reaction of the ECB, the FED and the BoE as well as the reasons for the different reactions (institutional set up, economic reasons etc.). In this context, the notes...

The notes in this compilation - prepared by selected monetary policy experts - analyse similarities and differences in the crisis reaction of the ECB, the FED and the BoE as well as the reasons for the different reactions (institutional set up, economic reasons etc.). In this context, the notes...