The known analytic studies of stationary solutions to the four-wave kinetic
equation for the spectra of surface gravity waves are restricted to the ca
se of deep water. This study extends these results to the case of a finite
water depth h. Our analysis is based on a simplified version of the kinetic
equation, namely, on the directional approximation, which is valid for nar
row angular spectra of waves. A fundamental difference is found in stationa
ry spectra between gravity waves in deep and finite-depth water. In the dee
p-water approximation, these spectra have a nonintegrable singularity as k
--> 0, and the divergence of all integral dynamic characteristics of gravit
y waves (in particular, of their energy) correspond to these spectra. The l
ong-wavelength cutoff of deep-water spectra is achieved only in the context
of a nonstationary model. Allowance for a finite depth h leads to the long
-wavelength cutoff of the stationary spectra of gravity waves and to their
finite integral energy.