Online Appendix - A Bayesian Approach to Probability Default Model Calibration: Theoretical and Empirical Insights on the Jeffreys Test

Online Appendix — Supplementary Material This online appendix provides supplementary methodological details, additional theoretical results and proofs, and extended empirical and simulation evidence that support the main paper. It includes further robustness checks, complementary tables and figures, and implementation details designed to facilitate replication and interpretation of the results. The appendix is intended to be read alongside the main manuscript and is referenced throughout the paper where additional material is required.