Corruption and inflation are two economic problems with serious social consequences. This paper analyzes the link between these two problems, focusing on the case of 19 prices observed for agricultural products in 90 countries since 2000. Using 'panel data cointegration' techniques, we conclude...

We examine the effect of demographic shifts on asset prices in an overlapping generations model with endogenous population dynamics. We establish a robust inverse relationship between returns and the old dependency ratio. We document the absence of a simple monotonic relationship between asset...