The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Financial Capacity and Output Fluctuations in an Economy with Multi-Period Financial Relationships
Abstract
This paper motivates a financial propagation mechanism in the context of an intertemporal production economy with asymmetric information, and with borrowers and lenders who enter multi-period financial relationships. A key feature is that aggregate output and borrowers' “financial capacity”—the maximum overhang of past debt they may feasibly carry—are determined jointly, much in the spirit of Gurley and Shaw (1955). Expectations of future economic conditions govern financial capacity which in turn may constrain current production, especially in bad times. A small but persistent shift in aggregate conditions may have a large impact on financial capacity, making the framework capable of motivating large endogenous fluctuations in financial constraints.
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
Agency Costs, Net Worth, And Business Fluctuations
Bernanke, B., Gertler, M., Bernanke, B., & Gertler, M. (1988) · Unknown · doi:10.22004/ag.econ.292693 · Cited by 4,386
Self-citationNon-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression
Bernanke, B. (1983) · National Bureau of Economic Research · doi:10.3386/w1054 · Cited by 2,173
Cited by
The Financial Accelerator in a Quantitative Business Cycle Framework
Bernanke, B., Gertler, M., & Gilchrist, S. (1998) · National Bureau of Economic Research · doi:10.3386/w6455 · Cited by 4,592
Self-citationMonetary policy, business cycles, and the behavior of small manufacturing firms
Gertler, M., & Gilchrist, S. (1994) · The Quarterly Journal of Economics · doi:10.2307/2118465 · Cited by 2,547
Self-citationGertler, M., & Gilchrist, S. (1993) · The Scandinavian Journal of Economics · doi:10.2307/3440134 · Cited by 733
Self-citationTime Variations and Covariations in the Expectation and Volatility of Stock Market Returns
WHITELAW, R. F. (1994) · The Journal of Finance · doi:10.1111/j.1540-6261.1994.tb05150.x · Cited by 493
A Theory of Financing Constraints and Firm Dynamics
Clementi, G. L., & Hopenhayn, H. A. (2006) · The Quarterly Journal of Economics · doi:10.1093/qje/121.1.229 · Cited by 465
Metadata
- Authors
- Gertler, M.
- Venue
- The Review of Economic Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1992-07
- Volume
- 59
- Issue
- 3
- Pages
- 455
- ISSN
- 0034-6527 (ISSN-L)
- OpenAlex
- W2057072451
- Cited by
- 222
- References
- 2
- FWCI
- 15.11
- 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: Financial Capacity and Output Fluctuations in an Economy with Multi-Period Financial Relationships. https://app.cochat.ai/papers/10.2307/2297859
- The paper
- Gertler, M. (1992). Financial Capacity and Output Fluctuations in an Economy with Multi-Period Financial Relationships. The Review of Economic Studies. https://doi.org/10.2307/2297859
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.
