substantially increase economic capital, the theoretical part of the paper explores whether this risk can be measured by a tractable … model that avoids Monte Carlo simulations. We analyze a simplified version of the analytic value-at-risk approximation … developed by Pykhtin (2004), which only requires risk parameters on a sector level. Sensitivity analyses with various input …

exports on the industry wage premium. The findings also show that import penetration from low-income countries has a … significant and negative impact on inter-industry wage differentials, while imports from high-income countries seem to have a more … ambiguous impact on the wage structure. The results suggest that trade with low-income and high-income countries has different …