Central bank digital currencies (CBDCs) have grasped the interest of central banks, policy makers, regulators, industry, and the general public, especially over the past year. The number of central banks actively engaging in CBDCs in one way or another, has increased from one third in 2018, to...

The validity of any test for nonlinearity based on resampling techniques depends heavily on the consistency of the generated resampled data to the null hypothesis of linear stochastic process. The surrogate data generating algorithms AAFT, IAAFT and STAP, as well as a residual-based bootstrap...