We argue that a correlated fluid of electrons and holes can exhibit a fractional quantum Hall effect at zero magnetic field analogous to the Laughlin state at filling 1/m. We introduce a variant of the Laughlin wavefunction for electrons and holes and show that for m=1 it describes a Chern insulator that is the exact ground state of a free fermion model with p_x + i p_y excitonic pairing.
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