Luppi, Barbara; Marzo, Massimiliano; Scorcu, Antonello E. - Rimini Centre for Economic Analysis (RCEA) - 2007
We estimate a model of credit risk for portfolios of Small and Medium-sized enterprises, conditional on being a non-profit or for-profit firms. The estimation is based on a unique dataset on Italian firms provided by a large commercial bank. We show that the main variables to identify...