- Marco Gross, Mindaugas Leika, and Pavel Lukyantsau (2020), [Expected Credit Loss Modeling from a Top-Down Stress Testing Perspective](https://www.elibrary.imf.org/view/journals/001/2020/111/article-A001-en.xml)
- Barry Belkin, Stephan Suchower, Lawrence R. Forest, Jr (1998), [A one-parameter representation of credit risk and transition matrices](https://www.z-riskengine.com/media/hqtnwlmb/a-one-parameter-representation-of-credit-risk-and-transition-matrices.pdf)
- Roger M. Stein (2011), [The role of stress testing in credit risk management](https://www.moodysanalytics.com/-/media/article/2011/11-15-06-The-role-of-stress-testing-in-credit-risk-management.pdf)
- Freddie Mac Loan Dataset: https://www.freddiemac.com/fmac-resources/research/pdf/user_guide.pdf
- Economic Historical and Forecast Data: https://www.federalreserve.gov/publications/2023-Stress-Test-Scenarios.htm