Irving Fisher’s Equation

Geoffrey W. Gardiner

Chapter 10 in The Evolution of Creditary Structures and Controls, 2006, pp 142-158 from Palgrave Macmillan

Abstract: Abstract MONETARY THEORY boasts a fundamental equation. It is MV=PT, and its derivation is credited to an American, Professor Irving Fisher. It states that the money supply (M) multiplied by the velocity of circulation (V) is equal to the number of transactions involving money payments (T) times the average price of each transaction (P).

Keywords: Demand Function; Money Supply; Gross National Product; Financial Service Authority; Monetary Theory (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28844-7_10

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DOI: 10.1057/9780230288447_10

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