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Виртуальное Богатство Растет
[Virtual wealth is growing]

Author

Listed:
  • Yashin, Pete

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.

Suggested Citation

  • Yashin, Pete, 2020. "Виртуальное Богатство Растет [Virtual wealth is growing]," MPRA Paper 99611, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:99611
    as

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    File URL: https://mpra.ub.uni-muenchen.de/99611/1/MPRA_paper_99611.pdf
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    References listed on IDEAS

    as
    1. Thomas Piketty & Gabriel Zucman, 2014. "Capital is Back: Wealth-Income Ratios in Rich Countries 1700–2010," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 129(3), pages 1255-1310.
    2. Yashin, Pete, 2020. "Law of conservation of real wealth and rising inequality," MPRA Paper 99308, University Library of Munich, Germany.
    3. Jean-Paul Fitoussi & Francesco Saraceno, 2009. "How Deep is a Crisis? Policy Responses and Structural Factors Behind Diverging Performances," Documents de Travail de l'OFCE 2009-31, Observatoire Francais des Conjonctures Economiques (OFCE).
    4. Dirk Bezemer & Michael Hudson, 2016. "Finance Is Not the Economy: Reviving the Conceptual Distinction," Journal of Economic Issues, Taylor & Francis Journals, vol. 50(3), pages 745-768, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Key words: unsecured value; outpace growth of wealth; virtual wealth; inequality rising;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • G00 - Financial Economics - - General - - - General
    • G01 - Financial Economics - - General - - - Financial Crises

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