Algebraic quantity equations before Fisher and Pigou

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Thomas M. Humphrey;
  • Subject: Price levels ; Money

Readers of this Review are doubtlessly familiar with the famous equation of exchange, MV=PQ, frequently employed to analyze the price level effects of monetary shocks. One might think the algebraic formulation of the equation is an outgrowth of the 20th century tendency... View more
  • References (47)
    47 references, page 1 of 5

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