NOTE: PROCEDURE PRINTTO used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

3    
4    libname build
4  ! "C:\Users\yl2269\Dropbox\Yao_Backup\ChicagoBooth_DB\Research_Project\Bank_liquidity\Journal\J
4  ! AR\CodeAndData\01_Build\bd_data";
NOTE: Libref BUILD was successfully assigned as follows: 
      Engine:        V9 
      Physical Name: 
      C:\Users\yl2269\Dropbox\Yao_Backup\ChicagoBooth_DB\Research_Project\Bank_liquidity\Journal\J
      AR\CodeAndData\01_Build\bd_data
5    
6    data existingpairs;
7    set build.existingpairs;
8    format pairid best16.;
9    pairid=ifn(rssd9001<nwrssd9001,rssd9001*10000000+nwrssd9001,nwrssd9001*10000000+rssd9001);
10   run;

NOTE: There were 4920 observations read from the data set BUILD.EXISTINGPAIRS.
NOTE: The data set WORK.EXISTINGPAIRS has 4920 observations and 5 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

11   
12   proc sort data=existingpairs;by pairid;run;

NOTE: There were 4920 observations read from the data set WORK.EXISTINGPAIRS.
NOTE: The data set WORK.EXISTINGPAIRS has 4920 observations and 5 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.01 seconds
      

13   data existingpairs;set existingpairs;by pairid;if first.pairid;run;

NOTE: There were 4920 observations read from the data set WORK.EXISTINGPAIRS.
NOTE: The data set WORK.EXISTINGPAIRS has 2460 observations and 5 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

14   data existingpairs; set existingpairs; keep weight pairid;run;

NOTE: There were 2460 observations read from the data set WORK.EXISTINGPAIRS.
NOTE: The data set WORK.EXISTINGPAIRS has 2460 observations and 2 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

15   
16   
17   data list1;
18   set build.nwregvar;
19   check1=1;
20   keep RSSD9001 check1 totalweight;
21   run;

NOTE: There were 6623 observations read from the data set BUILD.NWREGVAR.
NOTE: The data set WORK.LIST1 has 6623 observations and 3 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

22   proc sort data=list1; by RSSD9001;run;

NOTE: There were 6623 observations read from the data set WORK.LIST1.
NOTE: The data set WORK.LIST1 has 6623 observations and 3 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

23   data list1;set list1; by RSSD9001; if last.RSSD9001;run;

NOTE: There were 6623 observations read from the data set WORK.LIST1.
NOTE: The data set WORK.LIST1 has 211 observations and 3 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

24   
25   data list2;
26   set list1;
27   rename rssd9001=nwrssd9001;
28   rename check1=check2;
29   rename totalweight=nwtotalweight;
30   run;

NOTE: There were 211 observations read from the data set WORK.LIST1.
NOTE: The data set WORK.LIST2 has 211 observations and 3 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

31   
32   proc sql;
33     create table pair as
34     select  *
35     from list1 left join list2
36     on list1.check1=list2.check2
37     order by list1.rssd9001, list2.nwrssd9001;
NOTE: Table WORK.PAIR created, with 44521 rows and 6 columns.

38   quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.04 seconds
      cpu time            0.03 seconds
      

39   run;
40   
41   data pair;
42   set pair;
43   format pairid best16.;
44   if rssd9001~=nwrssd9001;
45   pairid=ifn(rssd9001<nwrssd9001,rssd9001*10000000+nwrssd9001,nwrssd9001*10000000+rssd9001);
46   drop check1 check2;
47   run;

NOTE: There were 44521 observations read from the data set WORK.PAIR.
NOTE: The data set WORK.PAIR has 44310 observations and 5 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

48   
49   proc sort data=pair;by pairid;run;

NOTE: There were 44310 observations read from the data set WORK.PAIR.
NOTE: The data set WORK.PAIR has 44310 observations and 5 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

50   data pair;set pair;by pairid;if first.pairid;run;

NOTE: There were 44310 observations read from the data set WORK.PAIR.
NOTE: The data set WORK.PAIR has 22155 observations and 5 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

51   
52   proc sort data=pair;by pairid;run;

NOTE: There were 22155 observations read from the data set WORK.PAIR.
NOTE: The data set WORK.PAIR has 22155 observations and 5 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

53   proc sort data=existingpairs;by pairid;run;

NOTE: There were 2460 observations read from the data set WORK.EXISTINGPAIRS.
NOTE: The data set WORK.EXISTINGPAIRS has 2460 observations and 2 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.01 seconds
      

54   data pair;
55   merge pair(in=a) existingpairs;
56   by pairid;
57   if a;
58   run;

NOTE: There were 22155 observations read from the data set WORK.PAIR.
NOTE: There were 2460 observations read from the data set WORK.EXISTINGPAIRS.
NOTE: The data set WORK.PAIR has 22155 observations and 6 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

59   
60   data pair;
61   set pair;
62   if weight=. then weight=0;
63   relation=ifn(weight>0,1,0);
64   run;

NOTE: There were 22155 observations read from the data set WORK.PAIR.
NOTE: The data set WORK.PAIR has 22155 observations and 7 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

65   
66   data fin;
67   set build.nwregvar;
68   run;

NOTE: There were 6623 observations read from the data set BUILD.NWREGVAR.
NOTE: The data set WORK.FIN has 6623 observations and 263 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.01 seconds
      

69   
70   data nplinfo;
71   set fin;
72   if rssd9999<20180101 and rssd9999>20140101;
73   keep rssd9001 rssd9999 npl_rel liquid_ratio;
74   run;

NOTE: There were 6623 observations read from the data set WORK.FIN.
NOTE: The data set WORK.NPLINFO has 3037 observations and 4 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

75   
76   data nwnplinfo;
77   set nplinfo;
78   rename rssd9001=nwrssd9001;
79   rename npl_rel=nwnpl_rel;
80   rename liquid_ratio=nwliquid_ratio;
81   run;

NOTE: There were 3037 observations read from the data set WORK.NPLINFO.
NOTE: The data set WORK.NWNPLINFO has 3037 observations and 4 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

82   
83   
84   
85   proc sql;
86     create table pairdetails as
87     select  *
88     from pair left join nplinfo
89     on pair.rssd9001=nplinfo.rssd9001
90     order by pair.rssd9001,pair.nwrssd9001, nplinfo.rssd9999;
WARNING: Variable RSSD9001 already exists on file WORK.PAIRDETAILS.
NOTE: Table WORK.PAIRDETAILS created, with 324188 rows and 10 columns.

91   quit;
NOTE: PROCEDURE SQL used (Total process time):
      real time           0.07 seconds
      cpu time            0.06 seconds
      

92   run;
93   
94   proc sort data=pairdetails;by nwrssd9001 rssd9999;run;

NOTE: There were 324188 observations read from the data set WORK.PAIRDETAILS.
NOTE: The data set WORK.PAIRDETAILS has 324188 observations and 10 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.07 seconds
      cpu time            0.06 seconds
      

95   proc sort data=nwnplinfo;by nwrssd9001 rssd9999;run;

NOTE: There were 3037 observations read from the data set WORK.NWNPLINFO.
NOTE: The data set WORK.NWNPLINFO has 3037 observations and 4 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

96   data pairdetails;
97   merge pairdetails (in=a) nwnplinfo;
98   by nwrssd9001 rssd9999;
99   if a;
100  run;

NOTE: There were 324188 observations read from the data set WORK.PAIRDETAILS.
NOTE: There were 3037 observations read from the data set WORK.NWNPLINFO.
NOTE: The data set WORK.PAIRDETAILS has 324188 observations and 12 variables.
NOTE: DATA statement used (Total process time):
      real time           0.05 seconds
      cpu time            0.01 seconds
      

101  
102  proc sort data=pairdetails;by rssd9001 nwrssd9001 rssd9999;run;

NOTE: There were 324188 observations read from the data set WORK.PAIRDETAILS.
NOTE: The data set WORK.PAIRDETAILS has 324188 observations and 12 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.07 seconds
      cpu time            0.04 seconds
      

103  
104  
105  proc corr data=pairdetails outp=nplcorr(TYPE=CORR) noprint;
106  var npl_rel nwnpl_rel;
107  by rssd9001 nwrssd9001;
108  run;

NOTE: Writing HTML Body file: sashtml.htm
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2869733
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2875332
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2880626
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2907381
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2907822
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2925657
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2944144
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3005332
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3025385
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3065617
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3140288
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3200221
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3200463
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3211601
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3212091
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3242838
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3283587
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3306815
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3365858
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3395668
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3407598
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3446412
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3447567
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3449075
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3475074
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3547999
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3555686
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3587146
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3589560
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3594872
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3650152
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3742020
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3803033
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3818804
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3839902
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3843507
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3844269
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3852022
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3854268
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3903661
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3932072
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3934562
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3973888
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4028712
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4037349
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4121912
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4191465
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4284536
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4305477
NOTE: The data set WORK.NPLCORR has 110530 observations and 6 variables.
NOTE: PROCEDURE CORR used (Total process time):
      real time           0.36 seconds
      cpu time            0.04 seconds
      

109  
110  data nplcorr;
111  set nplcorr;
112  if _NAME_="NPL_rel";
113  rename nwnpl_rel=nplcorr;
114  keep rssd9001 nwrssd9001 nwnpl_rel;
115  run;

NOTE: There were 110530 observations read from the data set WORK.NPLCORR.
NOTE: The data set WORK.NPLCORR has 22106 observations and 3 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

116  
117  proc corr data=pairdetails outp=liqcorr(TYPE=CORR) noprint;
118  var liquid_ratio nwliquid_ratio;
119  by rssd9001 nwrssd9001;
120  run;

ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2869733
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2875332
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2880626
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2907381
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2907822
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2925657
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=2944144
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3005332
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3025385
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3065617
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3140288
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3200221
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3200463
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3211601
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3212091
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3242838
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3283587
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3306815
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3365858
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3395668
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3407598
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3446412
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3447567
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3449075
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3475074
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3547999
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3555686
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3587146
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3589560
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3594872
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3650152
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3742020
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3803033
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3818804
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3839902
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3843507
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3844269
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3852022
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3854268
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3903661
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3932072
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3934562
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=3973888
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4028712
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4037349
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4121912
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4191465
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4284536
ERROR: All variables have missing values for all observations in the input data set.
NOTE: The above message was for the following BY group:
      RSSD9001=2856014 nwrssd9001=4305477
NOTE: The data set WORK.LIQCORR has 110530 observations and 6 variables.
NOTE: PROCEDURE CORR used (Total process time):
      real time           0.08 seconds
      cpu time            0.00 seconds
      

121  
122  data liqcorr;
123  set liqcorr;
124  if _NAME_="liquid_ratio";
125  rename nwliquid_ratio=liqcorr;
126  keep rssd9001 nwrssd9001 nwliquid_ratio;
127  run;

NOTE: There were 110530 observations read from the data set WORK.LIQCORR.
NOTE: The data set WORK.LIQCORR has 22106 observations and 3 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

128  
129  
130  data fin2017;
131  set fin;
132  if rssd9999=20171231;
133  keep rssd9001 assets npl_rel liquid_ratio;
134  run;

NOTE: There were 6623 observations read from the data set WORK.FIN.
NOTE: The data set WORK.FIN2017 has 186 observations and 4 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

135  
136  data nwfin2017;
137  set fin2017;
138  rename rssd9001=nwrssd9001;
139  rename assets=nwassets;
140  rename npl_rel=nwnpl_rel;
141  rename liquid_ratio=nwliquid_ratio;
142  run;

NOTE: There were 186 observations read from the data set WORK.FIN2017.
NOTE: The data set WORK.NWFIN2017 has 186 observations and 4 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

143  
144  
145  data locationinfo;
146  set build.bhcdata;
147  district=rssd9032;
148  state=rssd9210;
149  if rssd9999=20171231;
150  keep rssd9001 district state;
151  run;

NOTE: There were 106419 observations read from the data set BUILD.BHCDATA.
NOTE: The data set WORK.LOCATIONINFO has 4594 observations and 3 variables.
NOTE: DATA statement used (Total process time):
      real time           0.02 seconds
      cpu time            0.00 seconds
      

152  
153  data nwlocationinfo;
154  set locationinfo;
155  rename rssd9001=nwrssd9001;
156  rename district=nwdistrict;
157  rename state=nwstate;
158  run;

NOTE: There were 4594 observations read from the data set WORK.LOCATIONINFO.
NOTE: The data set WORK.NWLOCATIONINFO has 4594 observations and 3 variables.
NOTE: DATA statement used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

159  
160  proc sort data=pair;by rssd9001 nwrssd9001;run;

NOTE: There were 22155 observations read from the data set WORK.PAIR.
NOTE: The data set WORK.PAIR has 22155 observations and 7 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

161  proc sort data=nplcorr;by rssd9001 nwrssd9001;run;

NOTE: There were 22106 observations read from the data set WORK.NPLCORR.
NOTE: The data set WORK.NPLCORR has 22106 observations and 3 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

162  proc sort data=liqcorr;by rssd9001 nwrssd9001;run;

NOTE: There were 22106 observations read from the data set WORK.LIQCORR.
NOTE: The data set WORK.LIQCORR has 22106 observations and 3 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

163  
164  data pairdata;
165  merge pair (in=a) nplcorr liqcorr;
166  by rssd9001 nwrssd9001;
167  if a;
168  run;

NOTE: There were 22155 observations read from the data set WORK.PAIR.
NOTE: There were 22106 observations read from the data set WORK.NPLCORR.
NOTE: There were 22106 observations read from the data set WORK.LIQCORR.
NOTE: The data set WORK.PAIRDATA has 22155 observations and 9 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

169  
170  
171  proc sort data=pairdata;by rssd9001;run;

NOTE: There were 22155 observations read from the data set WORK.PAIRDATA.
NOTE: The data set WORK.PAIRDATA has 22155 observations and 9 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

172  proc sort data=fin2017;by rssd9001;run;

NOTE: There were 186 observations read from the data set WORK.FIN2017.
NOTE: The data set WORK.FIN2017 has 186 observations and 4 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

173  proc sort data=locationinfo;by rssd9001;run;

NOTE: There were 4594 observations read from the data set WORK.LOCATIONINFO.
NOTE: The data set WORK.LOCATIONINFO has 4594 observations and 3 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

174  data pairdata;
175  merge pairdata(in=a) fin2017 locationinfo;
176  by rssd9001;
177  if a;
178  run;

NOTE: There were 22155 observations read from the data set WORK.PAIRDATA.
NOTE: There were 186 observations read from the data set WORK.FIN2017.
NOTE: There were 4594 observations read from the data set WORK.LOCATIONINFO.
NOTE: The data set WORK.PAIRDATA has 22155 observations and 14 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

179  
180  proc sort data=pairdata;by nwrssd9001;run;

NOTE: There were 22155 observations read from the data set WORK.PAIRDATA.
NOTE: The data set WORK.PAIRDATA has 22155 observations and 14 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

181  proc sort data=nwfin2017;by nwrssd9001 ;run;

NOTE: There were 186 observations read from the data set WORK.NWFIN2017.
NOTE: The data set WORK.NWFIN2017 has 186 observations and 4 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

182  proc sort data=nwlocationinfo;by nwrssd9001 ;run;

NOTE: There were 4594 observations read from the data set WORK.NWLOCATIONINFO.
NOTE: The data set WORK.NWLOCATIONINFO has 4594 observations and 3 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.00 seconds
      cpu time            0.00 seconds
      

183  data pairdata;
184  merge pairdata(in=a) nwfin2017 nwlocationinfo;
185  by nwrssd9001;
186  if a;
187  run;

NOTE: There were 22155 observations read from the data set WORK.PAIRDATA.
NOTE: There were 186 observations read from the data set WORK.NWFIN2017.
NOTE: There were 4594 observations read from the data set WORK.NWLOCATIONINFO.
NOTE: The data set WORK.PAIRDATA has 22155 observations and 19 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

188  
189  proc sort data=pairdata;by rssd9001 nwrssd9001;run;

NOTE: There were 22155 observations read from the data set WORK.PAIRDATA.
NOTE: The data set WORK.PAIRDATA has 22155 observations and 19 variables.
NOTE: PROCEDURE SORT used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

190  
191  data pairdata;
192  set pairdata;
193  diff_assets=abs(log(assets)-log(nwassets))/(log(assets)+log(nwassets))*2;
194  assets_log=log(assets);
195  assets_log_sum=log(assets)+log(nwassets);
196  liq_mean=(liquid_ratio+nwliquid_ratio)/2;
197  npl_mean=(npl_rel+nwnpl_rel)/2;
198  nwassets_log=log(nwassets);
199  samedistrict=ifn(district=nwdistrict,1,0);
200  samestate=ifn(state=nwstate,1,0);
201  run;

NOTE: Missing values were generated as a result of performing an operation on missing values.
      Each place is given by: (Number of times) at (Line):(Column).
      4950 at 193:13   2321 at 193:17   4950 at 193:28   2929 at 193:29   2321 at 193:45
      4950 at 193:56   2929 at 193:57   2321 at 194:12   2321 at 195:16   4950 at 195:27
      2929 at 195:28   4950 at 196:23   4950 at 197:18   2929 at 198:14   
NOTE: There were 22155 observations read from the data set WORK.PAIRDATA.
NOTE: The data set WORK.PAIRDATA has 22155 observations and 27 variables.
NOTE: DATA statement used (Total process time):
      real time           0.01 seconds
      cpu time            0.00 seconds
      

202  
203  
204  
205  
206  PROC EXPORT DATA=pairdata
207              FILE="C:\Users\yl2269\Dropbox\Yao_Backup\ChicagoBooth_DB\Research_Project\Bank_li
207! quidity\Journal\JAR\CodeAndData\02_Analysis\an_data\pairdata"
208              DBMS=STATA REPLACE;
209  RUN;

NOTE: The export data set has 22155 observations and 27 variables.
NOTE: "C:\Users\yl2269\Dropbox\Yao_Backup\ChicagoBooth_DB\Research_Project\Bank_liquidity\Journal\
      JAR\CodeAndData\02_Analysis\an_data\pairdata.dta" file was successfully created.
NOTE: PROCEDURE EXPORT used (Total process time):
      real time           0.02 seconds
      cpu time            0.00 seconds
      

NOTE: SAS Institute Inc., SAS Campus Drive, Cary, NC USA 27513-2414
NOTE: The SAS System used:
      real time           12.55 seconds
      cpu time            0.85 seconds
      
