Séparation politique et désintégration commerciale
Recent papers document severe and rapid trade disintegration following political disintegration. We challenge this result and support the idea that established bilateral trade changes relatively slowly.
Vieillissement de la population et prise de risque sur les marches financiers
Using a long time series of the stock market return as well as of the demographic structure of the population, we show several robust economic relationships between demographic changes and the equity premium. Seniors' fraction in the population is a strong predictor of the market return.