In this paper the author analyzes the behavior of exchange rates expectations for four currencies, by considering a re-calculation and an extension of Resende and Zeidan (Expectations and chaotic dynamics: Empirical evidence on exchange rates, Economics Letters, 2008). Considering Lyapunov...

In this paper the author analyzes the behavior of exchange rates expectations for four currencies, by considering a re-calculation and an extension of Resende and Zeidan (Expectations and chaotic dynamics: empirical evidence on exchange rates, Economics Letters, 2008). Considering Lyapunov...

This paper reconsiders the nonlinearity test proposed by Koc-super-˘enda (Koc-super-˘enda, E. (2001). An alternative to the BDS test: integration across the correlation integral. Econometric Reviews20:337-351). When the analyzed series is non-Gaussian, the empirical rejection rates can be much...