We construct two new classes of topological dynamical systems; one is a factor of a one-sided shift of finite type while the second is a factor of the two-sided shift. The data are a finite graph which presents the shift of finite type, a second finite directed graph and a pair of embeddings of it into the first, satisfying certain conditions. The factor is then obtained from a simple idea based on binary expansion of real numbers. In both cases, we construct natural metrics on the factors and, in the second case, this makes the system a Smale space, in the sense of Ruelle. We compute various algebraic invariants for these systems, including the homology for Smale space developed by the author and the K-theory of various $C^{*}$-algebras associated to them, in terms of the pair of original graphs.

This paper is a continuation of the paper, Matsumoto [‘Subshifts, $\lambda $ -graph bisystems and $C^*$ -algebras’, J. Math. Anal. Appl. 485 (2020), 123843]. A $\lambda $ -graph bisystem consists of a pair of two labeled Bratteli diagrams satisfying a certain compatibility condition on their edge labeling. For any two-sided subshift $\Lambda $ , there exists a $\lambda $ -graph bisystem satisfying a special property called the follower–predecessor compatibility condition. We construct an AF-algebra ${\mathcal {F}}_{\mathcal {L}}$ with shift automorphism $\rho _{\mathcal {L}}$ from a $\lambda $ -graph bisystem $({\mathcal {L}}^-,{\mathcal {L}}^+)$ , and define a $C^*$ -algebra ${\mathcal R}_{\mathcal {L}}$ by the crossed product . It is a two-sided subshift analogue of asymptotic Ruelle algebras constructed from Smale spaces. If $\lambda $ -graph bisystems come from two-sided subshifts, these $C^*$ -algebras are proved to be invariant under topological conjugacy of the underlying subshifts. We present a simplicity condition of the $C^*$ -algebra ${\mathcal R}_{\mathcal {L}}$ and the K-theory formulas of the $C^*$ -algebras ${\mathcal {F}}_{\mathcal {L}}$ and ${\mathcal R}_{\mathcal {L}}$ . The K-group for the AF-algebra ${\mathcal {F}}_{\mathcal {L}}$ is regarded as a two-sided extension of the dimension group of subshifts.

We show that Matui’s HK conjecture holds for groupoids of unstable equivalence relations and their corresponding $C^{\ast }$-algebras on one-dimensional solenoids.

In the first part of the paper, we introduce notions of asymptotic continuous orbit equivalence and asymptotic conjugacy in Smale spaces and characterize them in terms of their asymptotic Ruelle algebras with their dual actions. In the second part, we introduce a groupoid $C^{\ast }$-algebra that is an extended version of the asymptotic Ruelle algebra from a Smale space and study the extended Ruelle algebras from the view points of Cuntz–Krieger algebras. As a result, the asymptotic Ruelle algebra is realized as a fixed point algebra of the extended Ruelle algebra under certain circle action.

We present a new construction of the entropy-maximizing, invariant probability measure on a Smale space (the Bowen measure). Our construction is based on points that are unstably equivalent to one given point, and stably equivalent to another, i.e., heteroclinic points. The spirit of the construction is similar to Bowen's construction from periodic points, though the techniques are very different. We also prove results about the growth rate of certain sets of heteroclinic points, and about the stable and unstable components of the Bowen measure. The approach we take is to prove results through direct computation for the case of a Shift of Finite type, and then use resolving factor maps to extend the results to more general Smale spaces.