Fabio Tramontana () (Università Politecnica delle Marche & Dipartimento di Economia e Metodi Quantitativi, Università di Urbino) Laura Gardini () (Dipartimento di Economia e Metodi Quantitativi, Università di Urbino (Italy)) Roberto Dieci () (Università di Bologna) Frank Westerhoff () (University of Bamberg)
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In the fi rst part of our paper we proposed a three-dimensional nonlinear dynamic model of interacting stock and foreign exchange markets, jointly driven by the speculative activity of heterogeneous investors. We focused, in particular, on the typical 'bull and bear' scenario that emerges from simpli ed one- and two-dimensional settings. The goal of this part of the paper is to provide a global analysis of the dynamics of the full model. As it turns out, the results we obtained in the fi rst part may serve as a road map to develop an initial understanding of the much more complicated three-dimensional model.
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Paper provided by University of Urbino Carlo Bo, Department of Economics in its series Working Papers with number
0808.