# Log

• 2026-10-30 P0: read TASK.md and codebook; contract written.
• 2026-10-30 P1: audit done; decisions: drop rating_2025 (leakage), drop 40 exact duplicates, drop 300 unobserved-outcome rows (2022).
• 2026-10-30 P2: baseline default_rate = 0.121111 computed in analysis.py.
• 2026-10-30 P3: analysis.py implemented (OLS LPM, CR1 cluster SE by firm); no randomness.
• 2026-10-30 P4: clean re-run identical; 9 consistency checks pass.
• 2026-10-30 P5: report.md and claims.json written; all phases passed.
• 2026-10-30 P5 fix: corrected leverage-floor count in report/audit to 54 (estimation sample), matching results.json data_issues.