Climate risk and the nexus of clean energy and technology stocks
运用时变相关模型，研究气候风险对清洁能源与科技股票关联的影响，发现物理和转型风险均正向影响长期相关性，而转型风险更稳健；短期相关性在物理风险冲击后下降。
Abstract We examine the impact of climate risks on the nexus of clean energy and technology stocks using a time-varying correlation model. We find that physical and transition climate risks are positively associated with the long-term correlation between clean energy and technology stock indices, whereas the effect of transition risk is more robust to different sample periods and alternative stock indices. On the contrary, the short-term correlation tends to decrease after shocks to physical risk, since clean energy stocks react more strongly to physical risk shocks than technology stocks.