Atolia, Manoj; Tor Einarsson; Marquis, Milton H. - 2009
Bernanke, Ben and Mark Gertler. 1989. “Agency Costs, Net Worth, and Business
Fluctuations,” American Economic Review 79 … downturns. Exceptions,
based on the early work of Diamond (1984), include Williamson (1986) and Bernanke
and Gertler (1989), in … Tirole (1997) and Bernanke and Gertler (1989). In this model, net
worth plays no role in limiting the need for external …