to explain the variation in a measure of a bank’s default risk (approximated by Z-score) and how these effects make their … simulation exercise suggests that basically all banks would have seen a decrease in their default risk during a crisis episode if …

liquidity risk. In order to achieve these goals we fit a treatment effects model. In the first step the probability of obtaining … liquidity risk, posterior to the end of the program, has been measured. The results suggest that, on average, banks that … assets and risk-free assets over short term liabilities. Moreover, it has been found that banks that obtained at some point …

lending ratio in times of substantial economic volatility, which could be explained by higher risk aversion of bank managers …

by increasing the borrowers' default risk. The impact of EPU on banks' loan pricing remains persistent after controlling … for banks' own idiosyncratic default risk and the political risk variables from ICRG database. Results remain robust when …, our results suggest that government economic policy uncertainty is an economically important risk factor for banks' loan …