Before revision:  The proposed estimation framework is able to localize the co-jumps very precisely through wavelet coefficients and identify the statistically significant co-jumps using bootstrapped test statistics . Empirical findings reveal the different behaviors of co-jumps during Asian, European and U.S. trading sessions.
After revision:  The proposed estimation framework is able to localize the co-jumps very precisely through wavelet coefficients and identify statistically significant co-jumps using bootstrapped test statistics . Empirical findings reveal the different behaviors of co-jumps during Asian, European and U.S. trading sessions.