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RBA Glossary definition for business cycle

business cycle – The period between peaks or troughs of macroeconomic activity.

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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/

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. ... It is, however, difficult to assess the role that this link will play in future business cycles.
https://www.rba.gov.au/publications/rdp/1993/9311/conclusions.html

Introduction

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
These developments have sparked concern that changes in financial structure have amplified the current business cycle. ... These larger distortions can lead to a longer and more amplified business cycle in the high debt economy.
https://www.rba.gov.au/publications/rdp/1993/9311/introduction.html

References

1 Nov 1993 RDP 9311
Philip Lowe and Thomas Rohling
Gordon (ed.),. The American Business Cycle: Continuity and Change. , University of Chicago Press, Chicago. ... Journal of Financial Economics. , 27, 355–387. Greenwald, Bruce and Joseph Stiglitz (1993), ‘Financial Market Imperfections and Business
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. ... Business credit is from the RBA. Bulletin. , Table D.3, and is available from December quarter 1976.
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
Again, this model predicts that the business cycle will be amplified if adverse shocks affect firms' equity. ... These studies of managerial compensation are generally divorced from the business cycle and the internal equity of the firm.
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
Compared to the US, relatively little work has been undertaken in Australia on the relationship between corporate equity and the business cycle. ... It suggests that if asset prices increase for reasons not associated with the business cycle, finance
https://www.rba.gov.au/publications/rdp/1993/9311/some-empirical-evidence.html