To Segment Or Not To Segment Markets? A Note On The Profitability Of Market Segmentation For An International Oligopoly

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Recent research on endogenous market segmentation finds that a monopoly's expected profit under perfectly segmented markets increases (relative to its profits under perfectly integrated markets)...

How Predictable Are Components Of The Aggregate Market Portfolio?

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The authors conduct an extensive analysis of return predictability for a variety of component portfolios using a large number of potential predictors from the literature on aggregate market return...

Volatility And Expected Returns Around The World

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The authors investigate how the stochastic local (global) market volatility is priced in the cross section of individual stock (country market portfolio) expected returns in the global market...

How Asymmetric Is U.S. Stock Market Volatility?

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This paper explores the asymmetry that is the difference in the volatility response to positive and negative return shocks, in the volatility predictions of asymmetric time series models, implied...

Pricing Of The Currency Risk In Stock Markets: Evidence From Finland And Sweden 1970-2005

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In this paper, the authors investigate whether global, local and currency risks are priced in two Nordic stock markets using conditional international asset pricing models. They take the view of...

Expensive Living: The Greek Experience Under The Euro

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Apart from its widely accepted direct advantages, the introduction of the euro has been accompanied by a surge of inflation in most of the EU member states. At the same time, wages - in part,...