	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)
	Full sample	Full sample	Post crisis	Post crisis	G10	G10	EM	EM
VARIABLES	4/2002-12/2019	4/2002-12/2019	1/2010-12/2019	1/2010-12/2019	4/2002-12/2019	4/2002-12/2019	4/2002-12/2019	4/2002-12/2019
								
dVIX	-1.80***		-1.41***		-1.81***		-1.19***	
	(0.34)		(0.44)		(0.48)		(0.32)	
c.dVIX#cL.ntotdebt	-0.11		1.33		-1.45**		2.55*	
	(0.97)		(1.21)		(0.52)		(1.37)	
c.dVIX#c.LCD	2.18***		0.99		2.46**		-0.73	
	(0.69)		(1.03)		(0.75)		(2.27)	
cL.ntotdebt#c.LCD	4.47**	4.26**	4.59	4.82	7.50**	7.43*	4.19	3.87
	(1.74)	(1.91)	(3.00)	(3.65)	(3.08)	(3.38)	(3.80)	(3.96)
c.dVIX#cL.ntotdebt#c.LCD	7.51*		2.91		11.42***		-3.57	
	(4.02)		(4.87)		(2.11)		(6.88)	
dLibOis		-1.47**		-2.64		-1.50*		-1.02
		(0.60)		(1.56)		(0.71)		(0.65)
c.dLibOis#cL.ntotdebt		-0.11		2.38		-0.53		1.62
		(0.63)		(3.24)		(0.39)		(1.92)
c.dLibOis#c.LCD		1.58**		4.66**		1.88**		-0.39
		(0.64)		(1.73)		(0.70)		(2.25)
c.dLibOis#cL.ntotdebt#c.LCD		5.07**		7.31		5.97***		-0.55
		(2.07)		(9.70)		(1.61)		(7.76)
								
Observations	4,576	4,576	2,471	2,471	1,604	1,604	2,972	2,972
R-squared	0.19	0.14	0.16	0.08	0.19	0.15	0.21	0.15
Controls	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
rss	39778	42464	19487	21296	12579	13288	26829	28793
df_m	19	19	15	15	19	19	19	19
Robust standard errors in parentheses								
*** p<0.01, ** p<0.05, * p<0.1								
