This paper provides an overview of recent research on dual labour markets. Theoretical and empirical contributions on the labour-market effects of dual employment protection legislation are revisited, as well as factors behind its resilience and policies geared towards correcting its negative...

Consumer surplus in a market is affected by how the market is segmented. We study the maximum consumer surplus across all possible segmentations of a given market served by a multi product monopolist. We characterize markets for which the maximum consumer surplus equals a first best benchmark...

This paper aims to analyse the use of branding and market segmentation from a hotel marketing perspective. The use of branding has enabled market segmentation and delivered financial and organisational growth for hotel operators. This application of marketing has increased value for the...

The literature has shown a substantial relation between stock return co-movement and macroeconomic variables. Our results contribute to the research by separating the stock return co-movement into intra- and inter-industry return co-movement and found that the predictive power comes mainly from...

We find that observed cross-country price differences primarily reflect regional market segmentation occurring within countries. Using a model of price-setting subject to costly search, we show that identification of national versus regional segmentation requires augmenting price data with...

This study investigates the listing of IPOs and the delisting from the Prime Standard, the highest regulated stock exchange segment in Germany. The German Stock Exchange instituted this market segment subsequent to the high-technology new economy period in 2003. For a sample of 531 firms, we...

This paper proposes an equilibrium model to explain the positive and sizable term premia observed in the data. We introduce a slow mean-reverting process of consumption growth and a segmented asset market mechanism with heterogeneous trading technology to otherwise a standard heterogeneous agent...

I examine how non-uniform information diffusion through distinct networks segments U.S. financial markets. Using changes in newspaper ownership networks, I document that a network link between different geographic areas leads to increased comovement of turnover and returns between stocks...

The dormant Commerce Clause has long been a thorn in the side of state policymakers. The latest battleground for the clash between federal courts and state legislatures is energy policy. In the absence of a decisive federal policy response to climate change, nearly thirty states have created a...

The returns to carry trades are controversially discussed as there seems to be no unifying risk-based explanation of currency returns and stock returns. This paper addresses carry trade returns from a risk pricing perspective and examines if these returns can be connected to persistent...