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dc.contributor.authorDieci, Robertoen
dc.contributor.authorWesterhoff, Franken
dc.date.accessioned2011-05-13-
dc.date.accessioned2011-05-13T14:45:14Z-
dc.date.available2011-05-13T14:45:14Z-
dc.date.issued2011-
dc.identifier.isbn978-3-931052-89-8en
dc.identifier.urihttp://hdl.handle.net/10419/45551-
dc.description.abstractWe develop a novel financial market model in which the stock markets of two countries are linked via and with the foreign exchange market. To be precise, there are domestic and foreign speculators in each of the two stock markets which rely either on linear technical or linear fundamental trading strategies to determine their orders. Since foreign stock market speculators require foreign currency to conduct their trades, all three markets are connected. Our setup entails a natural nonlinearity which may cause persistent endogenous price dynamics. Moreover, we analytically show that market interactions can destabilize the model's fundamental steady state.en
dc.language.isoengen
dc.publisher|aBamberg University, Bamberg Economic Research Group on Government and Growth (BERG) |cBambergen
dc.relation.ispartofseries|aBERG Working Paper Series on Government and Growth |x79en
dc.subject.jelC63en
dc.subject.jelF31en
dc.subject.jelG12en
dc.subject.jelG14en
dc.subject.ddc330en
dc.subject.keywordStock pricesen
dc.subject.keywordexchange ratesen
dc.subject.keywordmarket stabilityen
dc.subject.keywordtechnical and fundamental analysisen
dc.subject.keywordnonlinear market interactionsen
dc.subject.keywordendogenous dynamicsen
dc.titleOn the inherent instability of international financial markets: Natural nonlinear interactions between stock and foreign exchange markets-
dc.typeWorking Paperen
dc.identifier.ppn658138065en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bamber:79en

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