Over the past decade, no other tool in financial risk management has been used as much as Value at Risk (VaR). VaR is an estimate to determine how much a specific portfolio can lose within a given time period at a given confidence level. Nowadays, in order to improve the performance of VaR...

Under the new regulation based on Basel solvency framework, known as Basel III and Basel IV, financial institutions must calculate the market risk capital requirements based on the Expected Shortfall (ES) measure, replacing the Value at Risk (VaR) measure. In the financial literature, there are...

Like the rest of the poor periphery, Mexico had to deal with de-industrialization forces between 1750 and 1913, those critical 150 years when the economic gap between the industrial core and the primary-product-producing periphery widened to such huge dimensions. Yet, from independence to...

This paper analyses the main changes occurred in the productive structure of Spanish manufacturing industry in the last years, by relating them to variations in economic results observed therein and their realtionships. The analysis was carried out to three figures on the NACE and registers...

En este papel estudiamos los ingredientes principales que se consideran generalmente bajo concepto de la competitividad: la eficacia conectó a los costes de producción, de competición como medida de comportamiento y de diferenciación de producto; también consideramos el papel de las...