Research Fellows

How to re-conceptualise and re-integrate climate finance into society through ecological accounting?

We propose an exploratory and theoretical study which introduces how and why a particular and innovative ecological accounting approach, the CARE model, currently called upon by a growing number of practitioners and researchers, is a relevant framework to re-conceptualise the issue of climate finance

Expenditure elasticity and income elasticity of GHG emissions: A survey of literature on household carbon footprint

The article examines the relationship between a household's income and its carbon emissions (the carbon footprint). It is found that, generally, the carbon footprint grows less rapidly than expenditure, and confirms that the income elasticity is lower than the expenditure elasticity

Exploring nonlinearity on the CO emissions, economic production and energy use nexus: A causal discovery approach

We examine the interactions between growth in CO2 emissions, economic production, and energy use at the global and multi-regional levels over the period 1990–2014. Among our findings, our results suggest that policy effectiveness could be gained if a country’s climate actions were coordinated with the other geographies most affected by their consequences, providing valuable information on the implementation of Article 6 of the Paris Agreement.

Testing Goodwin with a stochastic differential approach—The United States (1948–2019)

This paper follows Harvie and Grasselli and Maheshwari's research program in testing both Goodwin's predator–prey model and the extension proposed by van der Ploeg. The aim of this paper is to provide a guideline for the bloc estimation and the backtesting strategy that can be applied to such a class of continuous-time non-linear macroeconomic models.

From words to deeds? Climate change and the European Central Bank

Using textual analysis methods, we study how the topic of climate change has appeared and evolved in the speeches of the ECB's Executive Board members since 1997.

It takes two to dance: Institutional dynamics and climate-related financial policies

This article studies how institutional dynamics might affect and be affected by the implementation of climate-related financial policies.

Better safe than sorry: macroprudential policy, Covid 19 and climate change

This article point out why current banking regulation is not adequate to face risks whose origin is grounded outside financial markets and offer avenues for reforming macroprudential regulation.

La finance durable : Où en est la recherche académique ?

L'objectif de cet article est de faire un état des lieux des travaux sur la finance durable à travers une analyse bibliométrique de la base de données WoS entre 1981 et 2018.

Why finance professionals hold green and brown assets? A lab-in-the-field experiment

We assess the impact of environmental externalities on portfolio decisions in a lab-inthe-field experiment on finance professionals and students. Subjects show pro-environmental preferences, with...  

Higher cost of finance exacerbates a climate investment trap in developing economies

Finance is vital for the green energy transition, but access to low cost finance is uneven as the cost of capital differs substantially between regions. This study shows how modelled decarbonisation pathways for developing economies are disproportionately impacted by different weighted average cost of capital (WACC) assumptions.