Financial Equilibrium in the Presence of Technological Change

Krzysztof Wasniewski ()
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Krzysztof Wasniewski: Modrzewski Krak w University, Faculty of Management and Communication Sciences, Krak w, Poland.

Journal of Economics Library, 2017, vol. 4, issue 2, 160-171

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.

Keywords: Money; Financial markets; Technological change. (search for similar items in EconPapers)
JEL-codes: E10 E30 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:cvv:journ5:v:4:y:2017:i:2:p:160-171

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