industries, we show that, after correction for simultaneity bias -- though not before -- the price of oil has large negative …

applied to a broad class of assignment models. The results indicate that industries are the loci of sorting - more productive … workers are employed in more productive industries. The evidence confirms assortative matching can be present even when worker …

trade barriers for manufacturing industries in European Union countries between 1999 and 2003. We find a large degree of … trade cost heterogeneity across industries. The most important trade barriers are transportation costs and policy factors …

Based on the estimation of a theoretically consistent gravity equation, together with a careful computation of … transportation costs across countries and industries, the Paper first provides estimates of ‘border effects’ among EU countries. The …

A number of studies have provided evidence of increased correlation in global financial market returns during bear … implied correlation based on portfolio downside risk measures that does not suffer from this bias. These unbiased quantile … correlation estimates are directly applicable to portfolio optimization and to risk management techniques in general. This simple …

Testing the hypothesis that international equity market correlation increases in volatile times is a difficult exercise … and misleading results have often been reported in the past because of a spurious relationship between correlation and … volatility. This paper focuses on extreme correlation, that is to say the correlation between returns in either the negative or …

parameter estimation are discussed. …

derive empirical predictions for the direction of correlation and for whether governance is stronger or weaker with multiple …