The first pandemic of the 21st century has brought Pyrrhic attention to one of the era's greatest megatrends - population ageing. Today rich countries are disproportionately affected but increasingly the world's elderly are residents of developing countries. In rich and poor countries alike, a...

This paper challenges established claims of comparable degrees of market integration in Europe and China on the eve of industrialization. Our empirical strategy focuses on the dynamics of price convergence and accounts for general equilibrium effects arising from common shocks and network...