Money and Credit Demand

Ansgar Belke and Thorsten Polleit ()
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Thorsten Polleit: Frankfurt School of Finance & Management

Chapter Chapter 2 in Monetary Economics in Globalised Financial Markets, 2009, pp 91-150 from Springer

Abstract: Classical Demand for Money Theory The quantity theory of money, dating back to contributions made in the mid-16th century by Spanish Scholastic writers of the Salamanca School, is one of the oldest theories in economics (de Soto, 2006, p. 603). In his book The Purchasing Power of Money (1911), Fisher gave the quantity theory, as inherited from his classical and pre-classical predecessors, its modern formulation. Fisher’s version, typically termed equation of exchange or transaction approach can be stated as:

Keywords: Interest Rate; Gross Domestic Product; Euro Area; Money Demand; Real Gross Domestic Product (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-540-71003-5_2

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