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This paper examines the effects of COVID‐19 new infections on the financial sovereign risks in the group of ten (G10) countries. The paper utilises panel least squares regression using monthly data over the period February 2020–July 2021. Two sovereign risk measures are examined: the Spread of Government Bond Yields and Sovereign Credit Default Swap spread. The results of the robustness tests show that the spread of the COVID‐19 has affected the sovereign risks significantly and positively. Contagion risks have been extended to exchanges rates and growth rates of international reserves. This paper offers two contributions. First, the results show robust evidence on the impact of COVID‐19 on country's sovereign risks. Second, the severity of COVID‐19 on country's sovereign risks is further. The empirical results carry policy implications that (a) countries must sustain efforts for safeguarding the evolution of COVID‐19 pandemic since it is hindering country's credit worthiness, thus increasing sovereign risks, (b) the G10 countries are advised to follow the zero COVID‐19 strategy, (c) macro prudential measures have to be implemented along with monetary policies that mitigate the sovereign risks and (d) implement social measures to restore the health system and contain the uncertainty on both economic and social grounds. [ABSTRACT FROM AUTHOR]

Climate technologies and sustainable finance are imperative to ensure green growth agenda. Though there exists literature, however, little is known regarding the distinct influence of financial development and green finance in the framework of climate tech. This study examines the relevance of climate technologies, financialization (financial market efficiency and financial institutions' access), and sustainable finance in G10 countries. The initial findings confirm a long-run cointegrating relationship between model variables and highlight the issues of cross-sectional dependence and slope heterogeneity. Therefore, we employ the Cross-Sectional Augmented ARDL model and find that climate technologies, financial institutions' access, and green bonds (financial market efficiency) significantly decrease (increase) carbon emissions. Manifestly, the marginal contribution of climate technologies is higher towards emissions reduction, followed by green financing. Similar outcomes are observed in the short run; nevertheless, the coefficient magnitudes are relatively lower. The stability of the model is also confirmed through significant and negative error correction terms, implying a substantial convergence towards steady-state equilibrium in case of any deviation. These results are also validated by alternative estimators and offer valuable policy recommendations. • Climate technologies are imperative to handle environmental concerns in G10 countries. • Advance panel estimators are employed to draw reliable estimates. • Climate technologies and financial institution's access lead to sustainable climate. • Green finance offers stronger emissions mitigating effect. [ABSTRACT FROM AUTHOR]

The literature contains two conflicting definitions of the on-the-run period for Treasury securities. We address the conflict by empirically examining the implications of the two definitions. We conclude that it is important that researchers clearly understand the implications of each definition. Our results suggest that on-the-run activity spans different auction calendar time in T-notes and T-bills. [ABSTRACT FROM AUTHOR]

We examine the asymmetric effects of daily oil price changes on equity returns, market betas, oil betas, return variances, and trading volumes for the US oil and gas industry. The responses of stock returns associated with negative changes in oil prices are higher than that associated with positive changes in oil prices. Stock risk measured by market beta is influenced more due to oil price decreases than due to oil price increases. On the other hand, oil risk exposures (oil betas) and return variances are more influenced by oil price increases than oil price decreases. The results of our study indicate that oil and gas firm returns, market betas, oil betas, return variances respond asymmetrically to oil price changes. We also find that relative changes in oil prices along with firm-specific factors such as firm size, ROA, leverage, market-to-book ratio (MBR) are important in determining the effects of oil price changes on oil and gas firms' returns, risks, and trading volumes. [ABSTRACT FROM AUTHOR]

This study applies the Sequential Panel Selection Method (SPSM) to test the mean reversion properties in the real interest rates for the G-10 countries (i.e. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, the United Kingdom and the United States) over the period 1980M1 to 2010M12. SPSM classifies the whole panel into a group of stationary countries and a group of nonstationary countries. In doing so, we can clearly identify how many and which series in the panel are stationary processes. Empirical results from the SPSM using the Panel Kapetanios et al. (KSS; 2003) test with a Fourier function indicate that the mean reversion holds true for all the G-10 countries. Our results have important policy implications for the G-10 countries under study. [ABSTRACT FROM AUTHOR]

This article investigates the dependence of G10 countries' equity markets on the US market, particularly when the US experiences upturns or downturns in the market. If indeed the dependence is high in the downturn market, then investors will not benefit from international diversification when it is mostly needed. Using daily returns on the stock markets of G11 countries, this study estimates Pearson and rank correlations of G10 markets conditional on the US market falling below and rising above certain levels. The rank correlation is robust to outliers and hence provides stronger evidence than its counterpart. When the US market falls, the dependence between the US market and G10 countries has become notably stronger than that during bull markets, except for Sweden. The observed higher dependence in the bear market is of concern for investors, because it erodes the benefit of international diversification. [ABSTRACT FROM AUTHOR]

Se presenta una nota que ofrece comentarios sobre un informe del Grupo de Diez de abril de 1993. Se hablan de mercados de divisas y crisis cambiarias. Se menciona la estabilidad cambiaria alcanzada con el Sistema Monetario Europa a lo largo de los años ochenta y un cambio que ocurrió de agosto a septiembre de 1992. Ocurrió un crisis que se manifestó con el derrumbe del la cotización de la libra esterlina y de la lira italiana.

This essay examines the relative stability of the private and the public sector of the economy, following three different approaches which at the same time suggest the main conclusions of this article. The first approach is to review the theoretical literature on this issue which does not seem to offer a conclusive answer. The second is a historical and descriptive analysis of the public sector in the main OECD countries in the period 1960-1989, suggesting a sort of cyclical pattern in government behavior to achieve sustainability. The third approach is a broad econometric analysis to determine whether the macroeconomic time series of the G-10 countries plus Switzerland in 1960-1989 exhibit stability. From this statistical exercise we conclude that there is some weak evidence for the relative stability of the public sector. [ABSTRACT FROM AUTHOR]

The author proposes the establishment of a G-10 group of countries to replace the existing G-8 Group. He claims that the group is an organization that is intended for global governance, although its member countries do not declare it. The composition of his proposed G-10 are the U.S., China, India, Japan, Germany, France, Brazil, Great Britain, Russia and Italy. His proposal excludes Canada, which is a member of the G-8 group.