: Empirical evidence from the g-7
countries. International Journal of Business and Economics, 3 (2):139{
153, 2004.
26
Giulia ….
JEL categories: C2, F3, G1
Keywords: Exchange rates, Microstructure, Markov chains.
CES, Faculty of Business and … Economics, Katholieke Universiteit Leuven, Belgium.
E-mail: giulia.piccillo@econ.kuleuven.be. Web: www …