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Abstract
Power spectrum densities for the number of tick quotes per minute (market activity)
on three currency markets (USD/JPY, EUR/USD, and JPY/EUR) for periods from January
1999 to December 2000 are analyzed. We find some peaks on the power spectrum densities
at a few minutes. We develop the double-threshold agent model and confirm that stochastic
resonance occurs for the market activity of this model. We propose a hypothesis that
the periodicities found on the power spectrum densities can be observed due to stochastic
resonance.