The transition from fossil fuels toward cleaner energy necessitates technological innovation, suggesting not only an association between clean energy and technology stocks but also a potential impact of climate risk on this association. In this paper, we examine the impact of climate risk on the...

Abstract This paper investigates the nature of shocks across international equity markets and evaluates the shifts in their comovements at a business-cycle frequency. Using an “identification through heteroskedasticity” methodology, we compute the impact coefficients on the common and...