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RBA Glossary definition for RBA

RBA – Reserve Bank of Australia. Australia's central bank, the body corporate successor to the Commonwealth Bank established in 1912; created under its new name by the Reserve Bank Act 1959.

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Agency Costs, Balance Sheets and the Business Cycle

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1993/9311.html

Agency Costs, Balance Sheets and the Business Cycle

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
Research Discussion Paper – RDP 9311 Agency Costs, Balance Sheets and the Business Cycle.
https://www.rba.gov.au/publications/rdp/1993/9311/

Introduction

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
The link between balance sheets and the business cycle has its roots in asymmetries in information between borrowers and lenders, and between owners and managers. ... Only after a period of balance sheet reconstruction by financial institutions and
https://www.rba.gov.au/publications/rdp/1993/9311/introduction.html

Conclusions

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
In practice, empirical researchers have had difficulties in demonstrating definitive links between the nature of the business cycle and balance sheets. ... They have had considerably more success in showing that the structure of a firm's balance sheet
https://www.rba.gov.au/publications/rdp/1993/9311/conclusions.html

References

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
RDP 9311: Agency Costs, Balance Sheets and the Business Cycle References. ... Mills, Karen, Steven Morling, and Warren Tease (1993a), ‘Balance Sheet Restructuring and Investment’, Reserve Bank of Australia Research Discussion Paper No.
https://www.rba.gov.au/publications/rdp/1993/9311/references.html

Data Appendix

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
RDP 9311: Agency Costs, Balance Sheets and the Business Cycle Data Appendix. ... issues. Market capitalisation of listed equities is from the RBA. Bulletin. , Table F.5.
https://www.rba.gov.au/publications/rdp/1993/9311/data-appendix.html

A Model of Managerial Incentives

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
RDP 9311: Agency Costs, Balance Sheets and the Business Cycle 3.
https://www.rba.gov.au/publications/rdp/1993/9311/model-managerial-incentives.html

Agency Costs, Credit Supply and Credit Demand: A Review

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
Thus, shocks to a firm's balance sheet in one period can influence production in future periods even though the shocks themselves are serially uncorrelated. ... It is to this issue that we now turn. 2.2 The Role of Banks' Balance Sheets.
https://www.rba.gov.au/publications/rdp/1993/9311/agency-costs-credit-supply-demand.html

Some Empirical Evidence

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
In fact, Mills, Morling and Tease (1993a) find that firms have been restructuring their balance sheets to reduce their debt exposure since 1989/90. ... The increased probability of financial failure has led companies to restructure their balance sheets
https://www.rba.gov.au/publications/rdp/1993/9311/some-empirical-evidence.html