China's dramatic success in attracting foreign direct investment (FDI) has raised concerns
that it has success diverted FDI from other countries in Asia. We develop a new methodology …

How could global equity investors fight climate change and what are the implications for
their portfolios? We construct a new climate alignment database to address these questions. …

… We use two measures for firm valuation: price to 12-month forward earnings (P/E) ratio; and
price-to-book (P/B). We correct for data skewness by trimming P/E and P/B values below 0 …

A large number of studies has failed to date to identify a robust and economically significant
climate risk premium or climate beta, either at the aggregate or at the sectoral level. The …

This paper provides empirical evidence that the propensity for political instability in the Central
African Republic (CAR) has been increased by low tax revenues and deteriorations in the …

… In a companion paper, Mercereau (2001), I also study it empirically. This paper develops a
… In Mercereau (2002), I develop a general equilibrium version of the model, in which risky …

Under near-singularity conditions typically generated by persistence in current account data
the predictions of present value models become extremely sensitive to small sample …

Climate concerns have grown dramatically. Investment tools to fight climate change are still
lacking, though. We develop portfolio optimizers that minimize climate impact while …

… In another paper (Mercereau, 2002), I develop a general equilibrium version of the model, …
(for a more complete discussion of the issue, see Mercereau (2003)). Also, Granger causality …

We study the role of financial markets in the dynamics of the real exchange rate. To do so,
we develop a model with stock markets, and we derive a closed-form solution for the real …