The Timing of Multilateral Lending
建模分析多边贷款谈判拖延的原因，认为拖延是筛选机制，高条件性成本的决策者通过延迟来传递信号，并发现增加未达成协议的成本会提高延迟概率。
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 borne by borrowers or lenders, can increase the chances of delay.