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

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 …

the levy is assessed as a proportion of wages the effect is to address capital market imperfections only. …

We estimate the effect of imported machines on the wages of machine operators utilizing Hungarian linked employer … the worker. We find that workers exposed to imported machines earn about 8 percent higher wages than other machine …

This paper investigates the effects of services offshoring on wages using individual-level data combined with industry … real wages. Hence, offshoring has contributed to a widening of the wage gap between skilled and less skilled workers. This …