We consider regenerative systems on the real line and study their structure. Local times and exit systems are defined. This leads to time changes and last exit decompositions. We establish a correspondence between stationary regenerative systems and Markov additive processes which are stationary in the space component.
Ann. Probab.
16(3):
1306-1332
(July, 1988).
DOI: 10.1214/aop/1176991693
