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Lévy's downcrossing theorem

✍ Scribed by David Williams


Publisher
Springer
Year
1977
Tongue
English
Weight
86 KB
Volume
40
Category
Article
ISSN
1432-2064

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We employ the Le´vy sections theorem in the analysis of selected dollar exchange rate time series. The theorem is an extension of the classical central limit theorem and offers an alternative to the most usual analysis of the sum variable. We find that the presence of fat tails can be related to the