CONVERGENCIA Y ESTABILIDAD DE LOS TIPOS DE CAMBIO EUROPEOS: UNA APLICACIóN DE EXPONENTES DE LYAPUNOV

in this paper we applied the dynamic system theory to the measurement of the stability of the european process of convergence. in particular, lyapunov？s exponents are used to verify the influence of political and economic decisions made during the creation of the european union on the stability (or instability) of exchange rate fluctuation in different european countries. we find evidence of such relationship