“…(1) is covariance stationary but the autocorrelation decays at a slow hyperbolic rate compared with exponential rate of decay of the stationary and invertible ARMA process. In the range À0:5 < d < 0:5, the long memory parameter is related to the Hurst coefficient, 16 H, to the fractal dimension, 13 D, and to the slope of the (generalized) spectral density in the low frequency range, 15 a, by d ¼ H À 0.5, H ¼ 2 À D and a ¼ 2d, respectively. Moreover, for 0:5 d < 1, the process is non-stationary and mean reverting.…”