After building lots of Shiller CAPEs for foreign markets it was refreshing to see this paper published recently.  Nice work Joachim!

Does the Shiller-PE Work in Emerging Markets?

Abstract:      
We test the reliability of the Cyclically Adjusted PE (CAPE) or Shiller PE as a forecasting and valuation tool for 35 countries including emerging markets. We find that the Shiller-PE is a reliable long-term valuation indicator for developed and emerging markets and we use the indicator to predict real returns on local equity markets over the next five to ten years.