Hidden tail chains and recurrence equations for dependence parameters associated with extremes of stationary higher-order markov chains

HIGHLIGHTS

• What: Motivated by the limitations of the established limit theory for stationary Markov chains, the authors seek to understand better the behaviour of such processes within an extreme event under less restrictive conditions, by using a more refined limit theory. The focus of the paper is similar to that of_[20], but with the added difficulty that the complexity of extreme events substantially increases with k. Even in these restrictive cases few results exist, e_g_[11, 23, 39]; however, the authors provide some extensions of these. The authors determine the behaviour for extreme events for a class . . .
  

   

  

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