This study extends the Diebold-Yilmaz Connectedness Index (DYCI) methodology and, based on forecast error covariance decompositions, derives a network risk model for a portfolio of assets. As a normalized measure of the sum of variance contributions, system-wide connectedness averages out the...

This paper investigates the decrease in wage inequality among working age men in the Brazilian formal labor market by decomposing it into its permanent and transitory components. The permanent component refers to workers' productivity characteristics such as education and abilities, whereas the...