We study a segmented-markets setting in which self-fulfilling volatility can arise. The only requirements are (i) asset price movements redistribute wealth across markets (e.g., equities rise as bonds fall) and (ii) some stabilizing force keeps valuation ratios stationary (e.g., cash flow growth...

Remanufacturing is a process that usually result in a used product being as good as new. However, not all customers view remanufactured products as similar to new products. Some customers perceive remanufactured products to be inferior in terms of quality compared to new products. In such cases,...

Critics of anti-discrimination policies argue that such policies are inefficient, because firms in a free-market system hire to maximize their profits and therefore discrimination only occurs to the extent it is rational. Conversely, this Article argues that gender discrimination results even...

We present a model of offshoring of tasks to a developing nation characterized by a minimum-wage formal sector and a flexible-wage informal sector. Some offshored tasks are outsourced by the formal sector to the lower-wage informal sector

A data broker sells market segmentations created by consumer data to a producer with private production cost who sells a product to a unit mass of consumers with heterogeneous values. In this setting, I completely characterize the revenue-maximizing mechanisms for the data broker. In particular,...

Tightening mutual fund regulations, particularly those of debt mutual funds, by the Indian securities market regulator – the Securities and Exchange Board of India (SEBI) are making Arbitrage funds get attention. Low risk, attractive tax treatment, and convenience caught investor interest, and...

This paper studies the difference in task supplies and economic status between natives and two generations of immigrants. I estimate differences in task supply and earnings between natives and immigrants in 1970 and 2015, which are the beginning and end of the fifth (and current) wave of...

In the Italian labour market a new segmentation emerged and is still developing, which added to the traditional cleavage between insiders and outsiders. The new phenomenon for Italy is the internal division within insiders, among decreasing permanent workers, well protected by the welfare...

A data broker sells market segmentations created by consumer data to a producer with private production cost who sells a product to a unit mass of consumers with heterogeneous values. In this setting, I completely characterize the revenue-maximizing mechanisms for the data broker. In particular,...