Peltonen, Tuomo; Popescu, Adina; Sager, Michael - 2009
disequilibria are arbitraged at di�erent speeds. Although the logistic function is
intuitive in the context of real economic … formally select between exponential and logistic transition functions; consistent
with economic intuition we �nd that mean …:
�rst, European Economic and Monetary Union (EMU) and Exchange Rate Mecha-
nism (ERM) countries; and second, all countries …