We examine the potential effect of naturalization on the U.S. immigrants's earnings. We find the earning gap between naturalized citizens and non-citizens is positive and a generally stable tent shape. We report a new entropy measure of the entire distribution gap, and conventional measures at...

We compare Value at Risk (VaR) and Expected Shortfall (ES) following a Stochastic Dominance (SD) approach frequently used to order distributions in terms of welfare and in portfolio selection. Basel Committee on Banking Supervision (BCBS) recommends bank risk managers to shift the current...