This paper analyzes whether international risk-sharing has improved along the same lines as the process of financial globalization. International financial markets allow investors to efficiently diversify their risks. Agents can protect themselves against fluctuations in their incomes through...

To shed some light on the impact of the growing international division of labor on wages, this paper aims to assess the effect of trade on wage distribution in the Austrian manufacturing industry by estimating quantile wage regressions. In the regressions, we control for the share of imports and...