This paper uses waveform dictionaries to decompose the signals contained within three foreign exchange rates using tick-by-tick observations obtained world wide. The three exchange rates examined are the Japanese Yen and the German Deutsche Mark against the U.S. dollar and the Deutsche Mark...

In this paper I review what insights we have gained about economic and financial relationships from the use of wavelets and speculate on what further insights we may gain in the future. Wavelets are treated as a acirc;not;Slensacirc;not;? that enables the researcher to explore relationships that...

The problem of business cycle symmetry is addressed within the context of time reversibility. To this effect, we introduce a time domain test of time reversibility, the TR test. In an application we show that time irreversibility is the rule rather than the exception for two well-known...