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Exchange Rates and Markov Switching Dynamics Yin-Wong C HUNG Economics Department, University of California, Santa Cruz, CA 96064 (Cheung UCSC.edu) UHF G. E GRANDSON Economics Department, Land University,

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What is exchange rates and markov?

Exchange rates refer to the value of one currency in terms of another currency. Markov refers to a mathematical concept used in probability theory and statistics.

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What is the purpose of exchange rates and markov?

The purpose of exchange rates is to determine the relative value of currencies and facilitate international trade and investment. Markov is used to model and analyze stochastic processes with memorylessness properties.

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