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RBA Glossary definition for borrower

borrower – A person or entity that incurs a debt to a lender on agreed terms.

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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, Credit Supply and Credit Demand: A Review

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
The probability of the bank verifying the borrower is a function of the collateral of the firm. ... Thus, this contract is very similar to the debt contract between the bank and a borrower.
https://www.rba.gov.au/publications/rdp/1993/9311/agency-costs-credit-supply-demand.html

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.
https://www.rba.gov.au/publications/rdp/1993/9311/introduction.html

Some Empirical Evidence

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
That is, the firm's net worth, or collateral value, is important for reducing agency costs arising from incomplete information between lender and borrower. ... When asset prices increased, the queue of borrowers simply lengthened. A strikingly different
https://www.rba.gov.au/publications/rdp/1993/9311/some-empirical-evidence.html

Conclusions

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
Three broad mechanisms were identified. The first of these relies on the fact that the costs imposed by asymmetric information between borrowers and lenders increase as the collateral of the firm
https://www.rba.gov.au/publications/rdp/1993/9311/conclusions.html