This paper suggests a new approach to evaluate realized covariance (RCOV) estimators via their predictive power on return density. By jointly modeling returns and RCOV measures under a Bayesian framework, the predictive density of returns and ex-post covariance measures are bridged. The forecast...

In the recent decade, the topic of environmental sustainability and its determinants has gained the attention of environmental policy analysts and academicians. However, some crucial factors that can affect environmental sustainability have not yet been explored in the literature. In this...