Working Paper no. 345, http://www.bis.org/publ/work345.pdf. Gertler, Mark, and Nobu Kiyotaki. 2011. "Financial Intermediation and Credit Policy in Business Cycle Analysis." In Handbook of Monetary Economics. Edited by Ben Friedman and Michael Woodford. Amsterdam: Elsevier. Gorton, Gary, Stefan Lewellen, and Andrew Me