The DOI matches its Crossref record; 74 of the 74 references it cites were found in a registry or an index.
Presidential Address: Asset Price Dynamics with Slow‐Moving Capital
Abstract
I describe asset price dynamics caused by the slow movement of investment capital to trading opportunities. The pattern of price responses to supply or demand shocks typically involves a sharp reaction to the shock and a subsequent and more extended reversal. The amplitude of the immediate price impact and the pattern of the subsequent recovery can reflect institutional impediments to immediate trade, such as search costs for trading counterparties or time to raise capital by intermediaries. I discuss special impediments to capital formation during the recent financial crisis that caused asset price distortions, which subsided afterward. After presenting examples of price reactions to supply shocks in normal market settings, I offer a simple illustrative model of price dynamics associated with slow‐moving capital due to the presence of inattentive investors.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
MYERS, S. C. (1984) · The Journal of Finance · doi:10.1111/j.1540-6261.1984.tb03646.x · Cited by 7,526
Market Liquidity and Funding Liquidity
Brunnermeier, M. K., & Pedersen, L. H. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn098 · Cited by 4,835
LOUGHRAN, T., & RITTER, J. R. (1995) · The Journal of Finance · doi:10.1111/j.1540-6261.1995.tb05166.x · Cited by 3,480
Myers, S. C. (1984) · The Journal of Finance · doi:10.2307/2327916 · Cited by 3,141
Investor Inattention and Friday Earnings Announcements
DELLAVIGNA, S., & POLLET, J. M. (2009) · The Journal of Finance · doi:10.1111/j.1540-6261.2009.01447.x · Cited by 1,743
Asset fire sales (and purchases) in equity markets
Coval, J., & Stafford, E. (2007) · Journal of Financial Economics · doi:10.1016/j.jfineco.2006.09.007 · Cited by 1,672
Do Demand Curves for Stocks Slope Down?
SHLEIFER, A. (1986) · The Journal of Finance · doi:10.1111/j.1540-6261.1986.tb04518.x · Cited by 1,521
Liquidity and Market Structure
GROSSMAN, S. J., & MILLER, M. H. (1988) · The Journal of Finance · doi:10.1111/j.1540-6261.1988.tb04594.x · Cited by 1,493
Portfolio Selection with Transaction Costs
Davis, M. H. A., & Norman, A. R. (1990) · Mathematics of Operations Research · doi:10.1287/moor.15.4.676 · Cited by 1,311
Equilibrium and welfare in markets with financially constrained arbitrageurs
Gromb, D., & Vayanos, D. (2002) · Journal of Financial Economics · doi:10.1016/s0304-405x(02)00228-3 · Cited by 1,190
Cited by
The Pre‐FOMC Announcement Drift
LUCCA, D. O., & MOENCH, E. (2015) · The Journal of Finance · doi:10.1111/jofi.12196 · Cited by 624
Measuring the effects of federal reserve forward guidance and asset purchases on financial markets
Swanson, E. T. (2021) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2020.09.003 · Cited by 600
Procyclical Leverage and Value-at-Risk
Adrian, T., & Shin, H. S. (2014) · Review of Financial Studies · doi:10.1093/rfs/hht068 · Cited by 555
Menkhoff, L., Sarno, L., Schmeling, M., & Schrimpf, A. (2012) · Journal of Financial Economics · doi:10.1016/j.jfineco.2012.06.009 · Cited by 518
Bond Supply and Excess Bond Returns
Greenwood, R., & Vayanos, D. (2014) · Review of Financial Studies · doi:10.1093/rfs/hht133 · Cited by 517
Metadata
- Authors
- DUFFIE, D.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2010-07-15
- Volume
- 65
- Issue
- 4
- Pages
- 1237-1267
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2163369381
- Cited by
- 854
- References
- 74
- FWCI
- 86.29
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Presidential Address: Asset Price Dynamics with Slow‐Moving Capital. https://app.cochat.ai/papers/10.1111/j.1540-6261.2010.01569.x
- The paper
- DUFFIE, D. (2010). Presidential Address: Asset Price Dynamics with Slow‐Moving Capital. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2010.01569.x
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
