Using a sample of 12,550 firm-year observations for the US over the period 2009-2021, we empirically examine the impact of environmental innovation on firm-level investment efficiency. Using fixed-effect regressions, our results indicate that eco-innovation has a significant and positive impact...

We provide a general characterization of the structure of rational expectations equilibria of any degree of revelation for pure exchange, sequential economies, with deffinitely many states of private information, an incomplete financial market and nominal assets. We estimate the dimension of the...

This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...