Virtual wealth is growing

Yashin, Pete (2020): Virtual wealth is growing.

Abstract

Market price of a financial asset may not coincide with the value of the counterpart obligations in the balance sheet of the issuer of this asset. The difference between these values is an unsecured part of the asset’s value, which forms financial bubbles and virtual wealth. Present article shows that the actually observed US unsecured virtual wealth has been growing since the 1980s amid cyclical fluctuations due to stock market volatility.

• Item Type: MPRA Paper
• Language: English
• Keywords: unsecured value; outpace growth of wealth; virtual wealth; inequality rising
• Subjects: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles; G - Financial Economics > G0 - General > G01 - Financial Crises; G - Financial Economics > G1 - General Financial Markets > G10 - General

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Yashin P., 2020. Law of conservation of real wealth and rising inequality, Munich Personal RePEc Archive, https://mpra.ub.uni-muenchen.de/99308/