The DOI matches its Crossref record; 11 of the 11 references it cites were found in a registry or an index.
The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence
Abstract
Recently, a debate has resurfaced on whether and how credit market imperfections may play a role in the transmission of monetary policy. This new literature attempts to identify the effects of credit market imperfections by analyzing the response to tight money of different forms of credit and different types of borrowers. The arguments and evidence in this literature are reviewed and some new evidence is presented. There is a striking difference in response of credit flows to small versus large borrowers, potentially consistent with the view that credit market imperfections help propagate the impact of monetary policy.
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
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957
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-citationFinancing Constraints and Corporate Investment
Fazzari, S., Hubbard, R. G., & Petersen, B. (1987) · National Bureau of Economic Research · doi:10.3386/w2387 · Cited by 4,351
Incentive-Compatible Debt Contracts: The One-Period Problem
Gale, D., & Hellwig, M. (1985) · The Review of Economic Studies · doi:10.2307/2297737 · Cited by 1,796
Credit, Money, and Aggregate Demand
Bernanke, B., & Blinder, A. (1988) · doi:10.3386/w2534 · Cited by 1,436
Financial Fragility and Economic Performance
Bernanke, B., & Gertler, M. (1990) · The Quarterly Journal of Economics · doi:10.2307/2937820 · Cited by 926
Self-citationFirm Heterogeneity, Internal Finance, and `Credit Rationing'
Calomiris, C. W., & Hubbard, R. (1990) · The Economic Journal · doi:10.2307/2233596 · Cited by 248
Financial Capacity and Output Fluctuations in an Economy with Multi-Period Financial Relationships
Gertler, M. (1992) · The Review of Economic Studies · doi:10.2307/2297859 · Cited by 222
Self-citationThe Mechanisms of the Business Cycle in the Postwar EraPreprint
Eckstein, O., & Sinai, A. (1986) · RePEc: Research Papers in Economics · Cited by 104
Market Structure and Stabilization Policy
Galbraith, J. K. (1957) · The Review of Economics and Statistics · doi:10.2307/1928529 · Cited by 91
Cited by
Capital structure decisions: Which factors are reliably important?
Frank, M. Z., & Goyal, V. K. (2009) · Financial Management · doi:10.1111/j.1755-053x.2009.01026.x · Cited by 2,859
Monetary 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-citationThe financial accelerator, and the flight to quality
Bernanke, B., Gertler, M., & Gilchrist, S. (1996) · The Review of Economics and Statistics · doi:10.2307/2109844 · Cited by 2,351
Self-citationThe impact of monetary policy on bank balance sheets
Kashyap, A. K., & Stein, J. C. (1995) · Carnegie-Rochester Conference Series on Public Policy · doi:10.1016/0167-2231(95)00032-u · Cited by 1,130
A review of trade credit literature: Opportunities for research in operations
Seifert, D., Seifert, R. W., & Protopappa-Sieke, M. (2013) · European Journal of Operational Research · doi:10.1016/j.ejor.2013.03.016 · Cited by 386
Metadata
- Authors
- Gertler, M., & Gilchrist, S.
- Venue
- The Scandinavian Journal of Economics
- Publisher
- JSTOR
- Published
- 1993-03
- Volume
- 95
- Issue
- 1
- Pages
- 43
- ISSN
- 0347-0520 (ISSN-L)
- OpenAlex
- W1498927610
- Cited by
- 733
- References
- 11
- FWCI
- 42.39
- 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: The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence. https://app.cochat.ai/papers/10.2307/3440134
- The paper
- Gertler, M., & Gilchrist, S. (1993). The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence. The Scandinavian Journal of Economics. https://doi.org/10.2307/3440134
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.
