So it is official now! I have been accepted into the PhD program in Economics in University of Iceland. My advisor is Dr.Helgi Tomasson. I need to ask him to update his profile in English. Anyway, we have been working on a paper to analyze the Icelandic Krona. I have written about it in my previous posts. We are simulating a Diffusion Process to model the white noise and map that to the empirical data of the ISK-USD exchange rate. This would be our first stab at this approach… as part of my thesis I will be using more sophisticated methods and generalize the conclusions to influence policy choices in Iceland.