211 Next, to reduce potential omitted variable bias, we have included additional control variables to our models. First, we now also include ‘House Price’ and ‘GDP’ as control variables in Equations (5.1) and (5.2). In addition, we include ‘Issuer’ and ‘State’ controls to all our models. The issuer represents the issuer o( mf tahj oe rsi et yc uorf i tt hi zea)t itor anntsraacntsi oa nc t’ si ocno lal antde rt ahlei ss tl aotcea treedp.rWe see nr et sp ot hr te tshtea tree si nu l wt s hwi ci ht ht ha lel t( h2 e) asdh do iwt iso nt ahle c or enst ur ol tlsv af or ri a bE lqeus ai tni ocno l u( 5m. 1n)s, (c2o)l ,u(m4 )n, a(n4d) (f6o )r oEf qTuaabtlieo n5 . 7( .5C. 2o)l uamn nd cwoel ui nmcnl u(d6e) sf oerv eErqaul aatdi odni t i(o5n. 3a)l . cWo ne tsrhool wv atrhi aabt loeus rt or eosuurl tms aolds oe lrse. m a i n r o b u s t w h e n Chapter 5 - The Impact of Creditor Protection
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