Wasniewski, Krzysztof (2017): Financial equilibrium in the presence of technological change.
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Abstract
This article explores the issue of observable instability in financial markets interpreted as a long-term process of adaptation to demand for money, which, in turn, is based on the expected depreciation of fixed assets. Exploration is based on verifying empirically the hypothesis that the velocity of money is significantly, negatively correlated with the pace of technological change. The purpose of exploration is to assess the well-founded of policies, which use financial and monetary tools, rather than the straightforwardly fiscal ones, to stimulate technological change. Empirical research suggests that aggregate depreciation of fixed assets is a significant factor inducing slower a circulation of money.
Item Type: | MPRA Paper |
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Original Title: | Financial equilibrium in the presence of technological change |
English Title: | Financial equilibrium in the presence of technological change |
Language: | English |
Keywords: | money, financial markets, technological change |
Subjects: | E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles |
Item ID: | 79426 |
Depositing User: | Krzysztof Waśniewski |
Date Deposited: | 29 May 2017 05:38 |
Last Modified: | 06 Oct 2019 00:27 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/79426 |