Irving Fisher (1867–1947): The Canonical Form of the Quantity Theory

Jan Greitens ()
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Jan Greitens: Johann Wolfgang Goethe-Universität

Chapter Chapter 26 in Currency and Credit Money, 2026, pp 253-261 from Springer

Abstract: Abstract This chapter presents Fisher’s formalization of the Quantity Theory of Money through the equation of exchange. He defines the relationship between money supply, velocity, transaction volume, and price levels, emphasizing proportionality between money and prices. Fisher distinguishes between different forms of money and incorporates credit into his framework. His approach aims to provide an empirical and measurable foundation for monetary theory. This chapter highlights Fisher’s influence on modern macroeconomics and monetary policy, particularly his focus on price stability and long-term neutrality of money.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-032-24113-9_26

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DOI: 10.1007/978-3-032-24113-9_26

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