### References

Blanco, R., Fernández, E., García-Posada, M., and S. Mayordomo (2023): “An estimation of the default probabilities of Spanish non-financial corporations and their applications to evaluate public policies”, Banco de España Occasional Papers, No. 2319.

Blanco, R., and S. Mayordomo (2023): “Evidence on the impact of the public guarantee and direct aid schemes on Spanish firms during the covid-19 crisis”, Banco de España Occasional Papers, No. 2317.

Hosmer, D. W. and S. Lemeshow (2000): Applied Logistic Regression. Second Edition. Wiley Series in Probability and Statistics. A Wiley-Interscience Publication.