Recently, Bauke and Mertens conjectured that the local statistics of energies
in random spin systems with discrete spin space should in most circumstances be
the same as in the random energy model. Here we give necessary conditions for
this hypothesis to be true, which we show to hold in wide classes of examples:
short range spin glasses and mean field spin glasses of the SK type. We also
show that, under certain conditions, the conjecture holds even if energy levels
that grow moderately with the volume of the system are considered. In the case
of the Generalised Random energy model, we give a complete analysis for the
behaviour of the local energy statistics at all energy scales. In particular,
we show that, in this case, the REM conjecture holds exactly up to energies
E_N<\b_c N, where \b_c is the critical temperature. We also explain the
more complex behaviour that sets in at higher energies.Comment: to appear in Proceedings of Applications of random matrices to
economics and other complex system