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An integer matrix induces a covering of and an endomorphism of for which there is a natural transfer operator . In this paper, we compute the KMS states on the Exel crossed product and its Toeplitz extension. We find that has a unique KMS state, which has inverse temperature . Its Toeplitz extension, on the other hand, exhibits a phase transition at $\beta=\log|\det A|\beta_\beta$ states is isomorphic to the simplex of probability measures on .

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