Financial equilibrium in the presence of technological change

Krzysztof Waśniewski ()

MPRA Paper from University Library of Munich, Germany

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: E1 E3 (search for similar items in EconPapers)
Date: 2017-05-26
New Economics Papers: this item is included in nep-dcm and nep-mac
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Financial Equilibrium in the Presence of Technological Change (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:79426

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